Document:

Blockbuster Investment Plan, Amended and Restated

 EXHIBIT 10.6 
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
 BLOCKBUSTER INVESTMENT PLAN 
 (Amended and Restated effective January 1, 2006) 

 TABLE OF CONTENTS 
  

					
	 	  	 	  	PAGE
			
	ARTICLE I	  	PREAMBLE	  	1
			
	ARTICLE II	  	DEFINITIONS	  	2
			
	2.1  	  	“Accounting Period”	  	2
			
	2.2  	  	“Account(s)”	  	2
			
	2.3  	  	“Administrator”	  	2
			
	2.4  	  	“Affiliated Company”	  	2
			
	2.5  	  	“After-Tax Contributions”	  	2
			
	2.6  	  	“Annual Addition”	  	2
			
	2.7  	  	“Beneficiary”	  	2
			
	2.8  	  	“BIP”	  	3
			
	2.9  	  	“Blockbuster”	  	3
			
	2.10	  	“Blockbuster Class A Stock Fund”	  	3
			
	2.11	  	“Blockbuster Class B Stock Fund”	  	3
			
	2.12	  	“Board”	  	3
			
	2.13	  	“Break in Service”	  	3
			
	2.14	  	“Code”	  	3
			
	2.15	  	“Company”	  	3
			
	2.16	  	“Company Stock”	  	3
			
	2.17	  	“Compensation”	  	3
			
	2.18	  	“Disability”	  	4
			
	2.19	  	“Earnings”	  	4
			
	2.20	  	“Eligibility Service”	  	4
			
	2.21	  	“Employee”	  	4

  

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	                    2.22	  	“Employer”	  	4
			
	2.23	  	“ERISA”	  	4
			
	2.24	  	“Former Participant”	  	5
			
	2.25	  	“Fund”	  	5
			
	2.26	  	“Highly Compensated Participant”	  	5
			
	2.27	  	“Hour of Service”	  	6
			
	2.28	  	“IRS”	  	6
			
	2.29	  	“Leased Employee”	  	6
			
	2.30	  	“Matchable Contributions”	  	6
			
	2.31	  	“Matching Employer Contributions”	  	6
			
	2.32	  	“Merged Plan”	  	6
			
	2.33	  	“Parental Leave”	  	6
			
	2.34	  	“Movie Brands Plan”	  	6
			
	2.35	  	“Participant”	  	6
			
	2.36	  	“Payroll Period”	  	6
			
	2.37	  	“Plan”	  	7
			
	2.38	  	“Plan Year”	  	7
			
	2.39	  	“Predecessor Plan(s)”	  	7
			
	2.40	  	“Retirement/Investments Committee”	  	7
			
	2.41	  	“Rollover Contributions”	  	7
			
	2.42	  	“Salary Reduction Contributions”	  	7
			
	2.43	  	“Service”	  	7
			
	2.44	  	“Severance Date”	  	7
			
	2.45	  	“Temporary Employee”	  	7
			
	2.46	  	“Trust Agreement”	  	7

  

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	2.47	  	“Trustee”	  	7
			
	2.48	  	“Unmatched Contributions”	  	7
			
	2.49	  	“Valuation Date”	  	7
			
	2.50	  	“Viacom”	  	7
			
	2.51	  	“Viacom Stock”	  	7
			
	2.52	  	“Viacom Class A Stock Fund”	  	8
			
	2.53	  	“Viacom Class B Stock Fund”	  	8
			
	2.54	  	“VIP”	  	8
			
	2.55	  	“Vesting Service”	  	8
			
	2.56	  	“Year of Eligibility Service”	  	8
			
	2.57	  	“Year of Vesting Service”	  	8
			
	ARTICLE III	  	ELIGIBILITY FOR PARTICIPATION	  	9
			
	3.1  	  	Eligibility	  	9
			
	3.2  	  	Method of Becoming a Participant	  	9
			
	3.3  	  	Reemployed Participants	  	10
			
	3.4  	  	Events Affecting Participation	  	10
			
	3.5  	  	Military Service	  	10
			
	ARTICLE IV	  	SERVICE	  	11
			
	4.1  	  	Credited Service	  	11
			
	4.2  	  	Year of Eligibility Service	  	11
			
	4.3  	  	Year of Vesting Service	  	12
			
	4.4  	  	Additional Service Credit	  	13
			
	ARTICLE V	  	CONTRIBUTIONS	  	14
			
	5.1  	  	Matchable Contributions	  	14
			
	5.2  	  	Unmatched Contributions	  	14

  

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	5.3  	  	Election of Salary Reduction Contributions	  	15
			
	5.4  	  	Change in Amount or Form of Contributions	  	15
			
	5.5  	  	Suspension of Contributions	  	15
			
	5.6  	  	Cessation of Contributions	  	15
			
	5.7  	  	Matching Employer Contributions	  	15
			
	5.8  	  	Remittance of Contributions to Trustee	  	16
			
	5.9  	  	Remittance of Matching Employer Contributions to Trustee	  	16
			
	5.10	  	Refund of Matching Employer Contributions	  	16
			
	5.11	  	Correction of Administrative Errors	  	16
			
	5.12	  	Rollover Contributions	  	17
			
	5.13	  	Limitation on Contributions	  	18
			
	5.14	  	Safe Harbor Notice	  	19
			
	ARTICLE VI	  	PARTICIPANT ACCOUNTS	  	20
			
	6.1  	  	Valuation of Assets	  	20
			
	6.2  	  	Credits to Participant Accounts	  	20
			
	6.3  	  	Debits to Participant Accounts	  	20
			
	6.4  	  	Statement of Participant Accounts	  	20
			
	ARTICLE VII	  	INVESTMENT OF CONTRIBUTIONS	  	21
			
	7.1  	  	Investment of Salary Reduction Contributions and Rollover Contributions	  	21
			
	7.2  	  	Investment of Matching Employer Contributions	  	21
			
	7.3  	  	Change in Investment Election for Current Contributions	  	21
			
	7.4  	  	Change in Investment Election for Prior Contributions	  	21
			
	7.5  	  	Fiduciary Responsibility for Investments	  	21
			
	7.6  	  	Trading Restrictions	  	21

  

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	ARTICLE VIII	  	WITHDRAWALS DURING EMPLOYMENT	  	23
			
	8.1  	  	Withdrawals of Salary Reduction Contributions, After-Tax Contributions, Matching Employer Contributions, Transferred Amounts, and Rollover Contributions; Frequency of Withdrawals	  	23
			
	8.2  	  	Withdrawal Procedures	  	26
			
	8.3  	  	Funds to be Charged with Withdrawal	  	27
			
	ARTICLE IX	  	PARTICIPANT LOANS	  	28
			
	9.1  	  	Loan Subaccounts	  	28
			
	9.2  	  	Eligibility for Loans	  	28
			
	9.3  	  	Availability of Loans	  	28
			
	9.4  	  	Amount of Loan	  	28
			
	9.5  	  	Terms of Loan	  	29
			
	9.6  	  	Distribution and Repayment of Loan	  	30
			
	9.7  	  	Events of Default and Action Upon Default	  	30
			
	9.8  	  	Military Service	  	31
			
	ARTICLE X	  	VESTING AND TERMINATION OF EMPLOYMENT	  	32
			
	10.1	  	Matchable, Unmatched and Rollover Contributions	  	32
			
	10.2	  	Matching Employer Contributions	  	32
			
	10.3	  	Forfeitures	  	32
			
	10.4	  	Lost Participants or Beneficiaries	  	33
			
	ARTICLE XI	  	PAYMENT OF ACCOUNTS OTHER THAN WITHDRAWALS	  	34
			
	11.1	  	Right to Payment	  	34
			
	11.2	  	Forms of Payment	  	34
			
	11.3	  	Stock Election	  	34
			
	11.4	  	Timing of Payment	  	35
			
	11.5	  	Valuation and Payment Procedures for Lump Sum Payments	  	35

  

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	11.6	  	Valuation and Payment Procedures for Installment Payments	  	36
			
	11.7	  	Time of Payment	  	37
			
	11.8	  	Minimum Distribution Requirements	  	37
			
	11.9	  	Direct Rollover Distributions	  	38
			
	ARTICLE XII	  	ADMINISTRATION OF THE BIP	  	40
			
	12.1	  	Appointment of Retirement/Investments Committee	  	40
			
	12.2	  	Retirement/Investments Committee Discretion, Powers and Duties	  	40
			
	12.3	  	Claims Procedure	  	42
			
	12.4	  	Claims Review Relating to Disability	  	42
			
	12.5	  	Retirement/Investments Committee Procedures	  	43
			
	12.6	  	Authorization of Payments	  	43
			
	12.7	  	Expenses	  	43
			
	12.8	  	Indemnity	  	44
			
	12.9	  	Reliance on Reports and Certificates	  	44
			
	ARTICLE XIII	  	AMENDMENT AND TERMINATION	  	45
			
	13.1	  	Right to Amend or Terminate	  	45
			
	13.2	  	Complete or Partial Termination	  	45
			
	13.3	  	Distribution of Funds Upon Termination of the BIP	  	46
			
	ARTICLE XIV	  	GENERAL PROVISIONS	  	47
			
	14.1	  	Employment Relationships	  	47
			
	14.2	  	Non-Alienation	  	47
			
	14.3	  	Qualified Domestic Relations Order	  	47
			
	14.4	  	Exclusive Benefit of Employees	  	47
			
	14.5	  	Merger, Consolidation or Transfer of Assets or Liabilities	  	47
			
	14.6	  	Appointments of Trustee	  	48

  

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	14.7  	  	Voting Rights	  	48
			
	14.8  	  	Tender Rights	  	49
			
	14.9  	  	Payments to Minors and Incompetents	  	50
			
	14.10	  	Employee’s Records	  	50
			
	14.11	  	Titles and Headings	  	50
			
	14.12	  	Notices	  	50
			
	14.13	  	Use of Masculine and Feminine; Singular and Plural	  	51
			
	14.14	  	Governing Law	  	51
			
	ARTICLE XV	  	ANNUAL ADDITION LIMITATIONS	  	52
			
	15.1  	  	Limitation on Annual Additions	  	52
			
	ARTICLE XVI	  	TOP-HEAVY PLAN	  	53
			
	16.1  	  	General Rule	  	53
			
	16.2  	  	Top-Heavy Plan	  	53
			
	16.3  	  	Definitions	  	53
			
	16.4  	  	Requirements Applicable if BIP is Top-Heavy	  	54
			
	APPENDIX A	  	INVESTMENT FUNDS AS OF JANUARY 1, 2006	  	58

  

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 ARTICLE I 
 PREAMBLE 
  
 The
Blockbuster Investment Plan (the “BIP” or the “Plan”) originally effective as of May 1, 1999, is hereby amended and restated in its entirety, as of January 1, 2006, except as otherwise
provided. This Plan received a spin-off of assets and liabilities from the Viacom Investment Plan (the “VIP”) effective as of May 1, 1999. The spun-off assets and liabilities included assets and liabilities from the
Blockbuster Entertainment Retirement and Savings Plan (the “Merged Plan”), which was merged into the VIP effective December 31, 1995. 
  
 The Plan, as amended and restated hereby, is intended to qualify as a profit sharing plan under Section 401(a) of the
Internal Revenue Code (the “Code”), and includes a cash or deferred arrangement that is intended to qualify under Section 401(k) of the Code. Furthermore, the Plan is intended to comply with the requirements of a
“safe harbor” 401(k) plan, as set forth in Sections 401(k)(12) and 401(m)(11) of the Code, Internal Revenue Service (“IRS”) Notices 98-52 and 2000-3 and subsequent IRS guidance issued thereunder. 
  
 Since the last amendment and restatement of the Plan effective
February 28, 2002, the Movie Brands 401(k) Profit Sharing Plan & Trust (the “Movie Brands Plan”) has been merged into the Plan. The Movie Brands Plan and those plans merged into the Plan prior to
February 28, 2002 shall be referred to as “Predecessor Plans” for purposes of this Plan. 
  
 It is the intention of the Company that the Plan and its Trust shall meet the requirements of the Employee Retirement Income Security Act of 1974, as
amended (“ERISA”), and of the Code and shall be qualified and exempt under Sections 401(a) and 501(a) of the Code, and shall qualify as a profit sharing plan that includes a cash or deferred arrangement within the meaning of
Section 401(k) of the Code. This restatement of the Plan, effective January 1, 2006, except as otherwise noted in the Plan, required by law, or as adopted in separate Company action, includes all amendments to the amended and restated Plan
made through December 31, 2005. 
  
 The rights of any
Employee (as defined below) or former Employee whose employment terminated prior to the effective date of any amendment and the rights of the beneficiary of such Employee or former Employee shall be governed by the terms of the Plan (including any
merged-in or Predecessor Plans) as in effect at the time of such termination of employment, except in the event such Employee is rehired and except as otherwise specifically provided herein, or as required by law 
  

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 ARTICLE II 
 DEFINITIONS 
  
 2.1
“Accounting Period” shall mean the period of four or five consecutive calendar weeks in a calendar month used by each Employer in the maintenance of Participant and Employer Accounts. 
  
 2.2 “Account(s)” shall mean with respect to any
Participant the separate accounts maintained by the Retirement/Investments Committee with respect to which are allocated to the appropriate separate account Salary Reduction Contributions, After-Tax Contributions, Rollover Contributions, Matching
Employer Contributions, and any other contributions or direct transfers made to the BIP on behalf of any Participant or Beneficiary. 
  
 2.3 “Administrator” shall mean the Retirement/Investments Committee which shall be the named fiduciary of the Plan within the
meaning of Section 402(a)(2) of ERISA. 
  
 2.4
“Affiliated Company” shall mean any corporation or other entity that is required to be aggregated with the Company pursuant to Sections 414(b), (c), (m), or (o) of the Code, but only to the extent so required.

  
 2.5 “After-Tax Contributions” shall
mean those contributions made by Participants that are included in each Participant’s income for Federal income and Social Security tax purposes and are subject to the limitations of Article XV. Effective for all Plan Years beginning on and
after January 1, 2001, Participants shall not be permitted to make After-Tax Contributions to the BIP. 
  
 2.6 “Annual Addition” shall mean for any Plan Year, Salary Reduction Contributions, Matching Employer Contributions, additional
Employer contributions pursuant to Paragraph 5.11 (which shall be treated as Annual Additions only to the extent and for the Plan Year (limitation year) required by regulations or other guidance issued pursuant to Code Section 415),
forfeitures, if any, allocated to a Participant’s Accounts and any other amounts required to be included by law. 
  
 2.7 “Beneficiary” shall mean the person designated by the Participant to receive any death benefits payable hereunder. Each
Participant has the right, from time to time, to change any designation of Beneficiary. A designation or change of Beneficiary must be in such format as is required by the Retirement/Investments Committee from time to time, and any change of
Beneficiary will not become effective until such change of Beneficiary is filed with the Retirement/Investments Committee whether or not the Participant is alive at the time of such filing; provided, however, that any such change will not be
effective with respect to any payments made by the Trustee in accordance with the Participant’s last designation and prior to the time such change was received by the Retirement/Investments Committee. Notwithstanding the above, in the case of
any Participant who is married on the date of the Participant’s death, the Participant’s spouse as of his date of death shall be the Participant’s Beneficiary unless the Participant shall have consented to a different Beneficiary on
prescribed forms and before either a notary public or an individual designated by the Committee. In the absence of an effective designation or if a named Beneficiary shall have died, any death benefits payable hereunder on behalf of the Participant
shall be distributed to the first of the following classes of successive preference beneficiaries: 
  
 (1) the Participant’s surviving spouse; 
  

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 (2) the Participant’s surviving children; 
  
 (3) the Participant’s surviving parents; 
  
 (4) the Participant’s surviving brothers and sisters; 
  
 (5) the estate of the person last receiving benefits hereunder. 

 
 Any individual who is designated as an alternate payee in a qualified
domestic relations order (as defined in Section 414(p) of the Code) relating to a Participant’s benefits under the Plan shall be treated as a Beneficiary hereunder, to the extent provided by such order. 
  
 2.8 “BIP” shall have the meaning set forth in the
Preamble. 
  
 2.9 “Blockbuster” shall mean
Blockbuster Inc., a Delaware corporation. 
  
 2.10
“Blockbuster Class A Stock Fund” shall mean the fund relating to the Plan consisting of Blockbuster class A common stock, par value $0.01 per share. 
  
 2.11 “Blockbuster Class B Stock Fund” shall mean the fund relating to the Plan consisting of
Blockbuster class B common stock, par value $0.01 per share 
  
 2.12 “Board” shall mean the Board of Directors of the Company. 
  
 2.13 “Break in Service” shall mean a period of severance from service as determined in accordance with Paragraph 2.44, Paragraph
4.2 and Paragraph 4.3. For purposes of applying Paragraph 3.3 to any Part-Time Employee, a one year Break in Service shall occur if such Employee completes less than 501 Hours of Service in one of the computation periods described in Paragraph
4.2(b) (subject to any special rules to the contrary, including any applicable rules with respect to Parental Leave or Family and Medical Leave). 
  
 2.14 “Code” shall have the meaning set forth in the Preamble. 
  
 2.15 “Company” shall mean Blockbuster. 
  
 2.16 “Company Stock” shall mean Blockbuster class A common stock, par value $0.01 per share and
Blockbuster class B common stock, par value $0.01 per share. 
  
 2.17 “Compensation” shall mean a Participant’s base pay for services rendered to the Employer paid during a Payroll Period, including all pre-tax elective contributions made on behalf of a Participant either to
a “qualified cash or deferred arrangement” (as defined under Section 401(k) of the Code and applicable regulations), a “cafeteria plan” (as defined under Code Section 125 and applicable regulations), or, effective
January 1, 2002, a “qualified transportation fringe” (as defined under Code Section 132(f) and applicable regulations) maintained by an Employer, plus all overtime pay, annual cash performance bonuses under any Company short-term
cash bonus plan sponsored by an Employer, commissions, hazard pay and shift differential pay, but excluding (i) other deferred compensation and (ii) additional compensation of every other kind, including cash bonuses under a Company
long-term performance plan, if any. For Participants who are eligible for the Company’s Excess Investment Plan, Compensation shall exclude cash performance bonuses under any Company’s short-term bonus plan and certain other comparable cash
bonus plans sponsored by the Company or an Employer. The total amount of a Participant’s Compensation taken into account for any Plan Year beginning on or after January 1, 2002 shall not exceed $200,000, as adjusted for cost of living
increases in accordance with Section 401(a)(17)(B) of the Code and the regulations and other guidance issued thereunder. If any Plan Year consists of fewer than twelve months, the Section 401(a)(17) limitation will be 

  

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 multiplied by a fraction, the numerator of which is the number of months in the Plan Year, and the denominator of which
is twelve. 
  
 2.18 “Disability” shall
mean a permanent and total disability that would qualify an Employee for benefits under the provisions of the long-term disability plan sponsored by, or participated in, by the Employee’s Employer. The determination of whether a Participant has
incurred a Disability for purposes of the BIP shall be made by the Retirement/Investments Committee. 
  
 2.19 “Earnings” shall mean the total amount of wages paid by the Employer to a Participant within the meaning of
Section 3401(a) of the Code (without regard to any rules under Section 3401(a) that limit the remuneration included in wages based on the nature or location of the employment or the services performed (such as the exception for
agricultural labor in Section 3401(a)(2))) and all other payments of compensation to a Participant by an Employer (in the course of the Employer’s trade or business) for which the Employer is required to furnish the Participant a written
statement under Sections 6401(d), 6051(a)(3) and 6052 of the Code (a Form W-2). Earnings in the preceding sentence shall be increased by the Participant’s pre-tax elective deferrals under any plans maintained by the Employer under Sections
401(k), 125 and 132(f) of the Code. 
  
 2.20
“Eligibility Service” shall mean an Employee’s Service, as determined under Paragraph 4.2. 
  
 2.21 “Employee” shall mean an employee of the Company or an Affiliated Company. A “Full-Time Employee” means any
Employee who is classified in the Employer’s employment records as a full-time employee. A “Part-Time Employee” means any Employee who is classified in the Employer’s employment records as a part-time employee. Notwithstanding
the foregoing, the term “Employee” shall exclude Leased Employees covered by a plan described in Section 414(n)(5) of the Code. 
  
 2.22 “Employer” shall include the Company and any Affiliated Company participating in the Plan as provided below. When used in
reference to Matching Employer Contributions for a Participant, the term “Employer” will refer to the Employer employing such Participant. When used in reference to the collective obligations of all Employers in the group, the obligation
of each Employer will be proportionate to the contributions of or on behalf of its Participants to the BIP. 
  
 If any entity is now or becomes an Affiliated Company of an Employer, including the Company, the Retirement/Investments Committee may include the
employees of that entity in the membership of the Plan upon appropriate action by that entity necessary to adopt the Plan. In that event, or if any persons become Employees of an Employer as the result of a merger or consolidation or as the result
of the acquisition of all or part of the assets or business of another entity, the Retirement/Investments Committee shall determine to what extent, if any, credit shall be granted for previous service with the other entity, subject to the continued
qualification of the Trust for the Plan as tax-exempt under the Code. The Retirement/Investments Committee may exclude the employees of any division of an Employer from membership in the Plan. 
  
 2.23 “ERISA” shall mean the Employee Retirement
Income Security Act of 1974, as amended. 
  

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 2.24 “Former Participant” shall mean a person whose active participation in the
BIP shall have terminated by reason of death, Disability, retirement, transfer to an Affiliated Company or other affiliated entity that is not an Employer, termination of employment, or any other reason, but who still has an Account in the BIP.

  
 2.25 “Fund” shall mean the trust fund
established for the purpose of receiving contributions, and paying distributions, under this Plan. A Trustee shall be appointed by the Retirement/Investments Committee under the terms of the Trust Agreement to administer the trust fund in accordance
with the terms of the Trust Agreement. All contributions under this Plan shall be paid to the Trustee and shall be held, invested and reinvested by the Trustee in accordance with the terms of the Trust Agreement. All property and funds of the trust
fund, including income from investments and from all other sources, shall be retained for the exclusive benefit of Employees, as provided in the Plan, and shall be used to pay distributions to Employees or their Beneficiaries, or to pay expenses of
administration of the Plan and trust fund. No Trustee shall be required to furnish any bond or security for the performance of its powers and duties hereunder unless the applicable law makes the furnishing of such bond or security mandatory, in
which event the Company shall pay the premium on any bond secured hereunder. 
  
 2.26 “Highly Compensated Participant” shall include those Employees who meet the definition of “Highly Compensated Employee” as determined under Section 414(q) of the Code and
the regulations issued thereunder, as set forth herein. The term “Highly Compensated Participant” includes “Highly Compensated Active Employees” and “Highly Compensated Former Employees” and shall be determined as
follows: 
  
 (a) “Highly Compensated
Active Employee” means an Employee described in Code Section 414(q) and the regulations thereunder, who performs services for the Company or an Affiliated Company during the Plan Year and who is in one or more of the following
groups: 
  
 (i) Employees who at any time during
the Determination Year (which shall be the Plan Year) or the Look-Back Year (which shall be the twelve-month period preceding the Plan Year) were owners (as defined in Code Section 318) of more than five percent of the outstanding stock of the
Company or an Affiliated Company, or stock possessing more than five percent of the total combined voting power of all stock of the Company and its Affiliated Companies. 
  
 (ii) Employees who received Compensation during the Look-Back Year in excess of $85,000 for Plan Years
beginning on and after January 1, 2002 (adjusted for increases in the cost of living at the same time and in the same manner permitted under Code Section 415(d)). 
  
 (b) The determination of the “Highly Compensated Participants” may be made by the
Retirement/Investments Committee on the basis of the “top-paid group” election or the substantiation guidelines in accordance with such regulations, notices, or other guidance issued under Section 414(q) of the Code. The
Retirement/Investments Committee has elected to make the “top-paid group” election. Any subsequent change in the Retirement/Investments Committee’s election shall be reflected in an amendment to the Plan. 
  

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 (c) A “Highly Compensated Former Employee” means an Employee who
separated from service prior to the Determination Year, who performed no services for an Employer during the Determination Year, and who was a Highly Compensated Active Employee for either such Employee’s separation year or any Determination
Year ending on or after the Employee’s 55th birthday. 
  
 (d) For purposes of determining Highly Compensated Participants, “Compensation” for a Determination Year or a Look-Back Year shall be determined in the same manner as “Earnings” in Paragraph 2.19
of the BIP. 
  
 (e) The determination of
“Highly Compensated Active Employee” shall be made by the Retirement/Investments Committee on the basis of the “Top-Paid Group” election or the substantiation guidelines in accordance with such regulations, notices or other
guidance issued under Code Section 414(q). 
  
 2.27
“Hour of Service” shall mean each hour credited under Paragraph 4.2. 
  
 2.28 “IRS” shall have the meaning set forth in the Preamble. 
  
 2.29 “Leased Employee” shall mean any person who provides services for an Employer under the primary direction and control of the
Employer and who qualifies as a “leased employee” as defined in Section 414(n)(2) of the Code. 
  
 2.30 “Matchable Contributions” shall mean a Participant’s Salary Reduction Contributions that are made pursuant to Paragraphs
5.1 and 5.3, with respect to which Matching Employer Contributions are made. 
  
 2.31 “Matching Employer Contributions” shall mean contributions made by each Employer in accordance with Paragraph 5.7 and that are subject to the provisions of Article XV. 
  
 2.32 “Merged Plan” shall have the meaning set forth
in the Preamble. Provisions applicable to Participants who were participants in the Merged Plan and the VIP are set forth in Appendix A. 
  
 2.33 “Parental Leave” shall mean, for purposes of determining Eligibility Service under Paragraph 4.2 and Vesting Service under
Paragraph 4.3, a period in which the Employee is absent from work immediately following active employment because of the Employee’s pregnancy, the birth of the Employee’s child or the placement of a child with the Employee in connection
with the adoption of that child by the Employee, or for purposes of caring for that child for a period beginning immediately following that birth or placement. Parental Leave shall include such periods of leave described in the Family and Medical
Leave Act of 1993 (as amended) solely to the extent required thereunder. 
  
 2.34 “Movie Brands Plan” shall have the meaning as set forth in the Preamble. 
  
 2.35 “Participant” shall mean an Employee who meets the eligibility requirements set forth in Article III herein and who has on
file with the Company an authorization to withhold or reduce part of the Participant’s Compensation as a periodic contribution to the BIP. Such term shall, if the context shall permit, include a Former Participant. 
  
 2.36 “Payroll Period” shall mean the regular period
(whether weekly or biweekly or semimonthly or otherwise) on which Compensation payments are based. 
  

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 2.37 “Plan” shall have the meaning set forth in the Preamble. 
  
 2.38 “Plan Year” shall mean the twelve-month period
that begins on each January 1. 
  
 2.39
“Predecessor Plan(s)” shall have the meaning set forth in the Preamble. 
  
 2.40 “Retirement/Investments Committee” shall mean the persons appointed by the Board to serve on the Retirement/Investments
Committee to administer the Plan, in accordance with Article XII. 
  
 2.41 “Rollover Contributions” shall mean contributions made by Participants in accordance with Paragraph 5.12. 
  
 2.42 “Salary Reduction Contributions” shall mean pre-tax elective contributions within the meaning of Section 401(k) of the
Code and the regulations thereunder made by Participants in accordance with Paragraph 5.3. Salary Reduction Contributions are subject to the provisions of Article XV. 
  
 2.43 “Service” shall have the meaning set forth in Paragraph 4.1. 
  
 2.44 “Severance Date” shall mean the earlier of the
date on which an Employee resigns, retires, is discharged or dies, or the first anniversary of the date on which the Employee is first absent from service, with or without pay, for any other reason such as vacation, sickness, disability, or leave of
absence; provided, however, that if an Employee is absent beyond such first anniversary date by reason of Parental Leave or Family and Medical Leave, the Employee’s Severance Date shall be the second anniversary of the first date of such
absence. A one-year period of severance shall occur if an Employee’s employment is severed and the Employee is not reemployed within the 12 consecutive month period commencing on the Employee’s Severance Date. 
  
 2.45 “Temporary Employee” shall mean an Employee of
the Company or an Affiliated Company who is employed on a temporary or periodic basis where such Employee from time to time accepts, at the Employee’s discretion, job assignments having a fixed and limited duration, such as (but not limited to)
special projects to cover unusual or cyclical employment needs, at potentially varying rates of compensation with each job assignment and who is classified in the Employer’s records as a “temporary employee.” 
  
 2.46 “Trust Agreement” shall mean the trust agreement
by and among the Company and the Trustee, as in effect as of January 1, 2006, and as amended from time to time. 
  
 2.47 “Trustee” shall mean the Trustee acting under the Trust Agreement. 
  
 2.48 “Unmatched Contributions” shall mean Salary
Reduction Contributions made by Participants in accordance with Paragraphs 5.2 and 5.3, with respect to which Matching Employer Contributions are or were not made. 
  
 2.49 “Valuation Date” shall mean any day on which the New York Stock Exchange or any successor to
its business is open for trading, or such other date as may be designated by the Committee. 
  
 2.50 “Viacom” shall mean Viacom Inc., a Delaware corporation. 
  
 2.51 “Viacom Stock” shall mean Viacom class A common stock, par value $0.01 per share and Viacom class B common stock, par value
$0.01 per share. 
  

 -7- 

 2.52 “Viacom Class A Stock Fund” shall mean the fund relating to the Plan
consisting of Viacom class A common stock, par value $0.01 per share. 
  
 2.53 “Viacom Class B Stock Fund” shall mean the fund relating to the Plan consisting of Viacom class B common stock, par value $0.01 per share. 
  
 2.54 “VIP” shall have the meaning set forth in the Preamble. 
  
 2.55 “Vesting Service” shall mean an Employee’s
service, as determined under Paragraph 4.3. 
  
 2.56
“Year of Eligibility Service” shall mean the period of Service as defined in Paragraph 4.2 that is used in determining an Employee’s eligibility to participate in the BIP. 
  
 2.57 “Year of Vesting Service” shall mean the period
of Service, as defined in Paragraph 4.3, which is used in determining an Employee’s nonforfeitable right to Matching Employer Contributions. 
  

 -8- 

 ARTICLE III 
 ELIGIBILITY FOR PARTICIPATION 
  
 3.1 Eligibility. 
  
 (a) Each
Employee of an Employer will be eligible to become a Participant on the first day of the month following the month in which the Employee attains age 21 and completes one Year of Eligibility Service, provided that the Employee is employed by an
Employer at such time and the Employee satisfies the requirements of Paragraph 3.2. 
  
 (b) Notwithstanding the foregoing, the following persons are not eligible to participate under the BIP without regard to any decision of
the IRS or any other governmental agency regarding the employment status or classification of such persons: (i) Temporary Employees; (ii) Employees who work for an Affiliated Company that does not participate in the BIP, including any
employee of a foreign affiliate who is a United States citizen, unless specifically determined by the Retirement/Investments Committee to be eligible for participation in the BIP; (iii) any Employee who is a non-resident alien of the United
States for federal tax purposes and who receives no earned income from the Employer that constitutes income from sources within the United States; (iv) any Employee included in a group determined by the Retirement/Investments Committee in
writing not to be eligible for participation in the BIP; (v) any Employee included in a classification of employees whose terms and conditions of employment are subject to the provisions of a collective bargaining agreement, unless the terms of
the collective bargaining agreement provide for eligibility for participation in the BIP; (vi) a Leased Employee; (vii) any other individual who performs services for an Employer but who does not receive payment for services directly from
the Company’s U.S. based payroll, such as employees of employment agencies that are not an Affiliated Company and other persons who perform services for the Company but who are not Company employees; and (viii) persons whose services are
rendered pursuant to written arrangements that expressly recite that the service provider is not eligible for participation in the Plan. 
  
 It is expressly intended that individuals not treated as common law employees by an Employer on their payroll records are to be excluded
from Plan participation even if a court or administrative agency later determines that such individuals are common law employees of an Employer and not independent contractors. 
  
 (c) The preceding notwithstanding, any Full-Time Employee or Part-Time Employee who has satisfied the
applicable service requirements prior to commencing employment with the Employer by reason of prior service credited under Paragraph 4.1 will be eligible to become a Participant on the first day of the Employee’s employment with the Employer.

  
 3.2 Method of Becoming a Participant. An eligible
Employee may become a Participant (or resume participation in accordance with the Plan) by making written, telephonic or electronic application to participate in the BIP under the appropriate procedures prescribed by the Retirement/Investments
Committee. An Employee’s participation will become effective as 

  

 -9- 

 
soon as is administratively practical following the date such election is received by the Retirement/Investments Committee. 
  
 3.3 Reemployed Participants. An Employee who was a Participant in the
BIP or who satisfied the requirements of Paragraph 3.1 but did not enroll under Paragraph 3.2 and whose employment with an Employer has terminated but who subsequently is reemployed shall again become a Participant or eligible to become a
Participant on the first date on which the Employee is reemployed by an Employer, satisfies the requirements of Paragraph 3.2 and, if such Employee is a Part-Time Employee, completes an Hour of Service. A Part-Time Employee who did not satisfy the
requirements of Paragraph 3.1 and whose employment with an Employer has terminated shall, after a one-year Break in Service, be treated as a newly-hired Employee upon reemployment by an Employer. A Part-Time Employee who did not satisfy the
requirements of Paragraph 3.1 and whose employment with an Employer has terminated shall, if the Employee is rehired before the end of a one-year Break in Service, be eligible to become a Participant in accordance with Paragraphs 3.1 and 3.2, with
such person’s Hours of Service being measured from the original date of hire. If a Full-Time Employee’s employment with an Employer is severed prior to the completion of a Year of Eligibility Service but the Employee is reemployed within
12 months following the earlier to occur of (i) such person’s Severance Date or (ii) the first day of any leave of absence immediately preceding the Severance Date that does not in and of itself result in a Severance, the period of
severance shall also constitute Eligibility Service. If, however, a Full-Time Employee is not reemployed within the 12 month period described in the preceding sentence, the Employee will be treated as a newly hired employee upon reemployment. In all
such cases, Eligibility Service for periods after reemployment shall be determined in accordance with the provisions of the Plan in effect during such reemployment. 
  
 3.4 Events Affecting Participation. If a Participant is transferred to employment with an Affiliated Company, or any
other business affiliated with the Company that is not participating in the BIP, or is transferred to a classification of employment with the Company or an Affiliated Company that makes the Participant ineligible to participate, the
Participant’s active participation under the BIP shall be suspended. During the period of the Participant’s employment in such ineligible position, the Participant shall not be eligible to have amounts deferred, contributed or allocated to
the Participant’s Account under Paragraphs 5.1, 5.2, or 5.7. 
  
 3.5 Military Service. Notwithstanding any other provision of the Plan to the contrary, contributions, benefits and Service credit with respect to qualified military service will be provided in accordance with Section 414(u) of
the Code. 
  

 -10- 

 ARTICLE IV 
 SERVICE 
  
 4.1 Credited
Service. Except as otherwise provided, Service with respect to any Employee shall mean periods of employment with the Company, an Affiliated Company (on or after the date of affiliation unless determined otherwise by the Retirement/Investments
Committee), and any predecessor entity of an Employer, or a corporation or other entity merged, consolidated or liquidated into the Employer or a predecessor of the Employer, or a corporation or other entity, substantially all of the assets of which
have been acquired by the Employer, if the Employer maintains a plan of such a predecessor entity or entity whose assets were acquired. If the Employer does not maintain a plan maintained by such a predecessor, periods of employment with such a
predecessor shall be credited as Service only to the extent required under regulations prescribed by the Secretary of the Treasury pursuant to Section 414(a)(2) of the Code. 
  
 Periods recognized in the following plans on behalf of a Participant shall be recognized as Eligibility Service and as
Vesting Service, as appropriate, under the BIP for such Participant: the VIP and the Movie Brands Plan. In addition, Employees of American Satellite and Video, Inc. who are hired by Game Brands Inc. as of the date of the acquisition shall be
credited for their prior service with American Satellite and Video, Inc. for purposes of eligibility to participate in the Plan. 
  
 4.2 Year of Eligibility Service. 
  
 (a) Full-Time Employees: A Full-Time Employee’s Eligibility Service shall be measured in years and days (with each consecutive 365
days of Service being equivalent to one Year of Eligibility Service) from the date on which employment commences with the Company or an Affiliated Company (including periods of employment credited pursuant to Paragraph 4.1) to the Employee’s
Severance Date. Eligibility Service shall include, by way of illustration but not by way of limitation, the following periods: 
  
 (i) Any leave of absence from employment that is authorized by the Company, by an Affiliated Company or predecessor, or other employer
described in Paragraph 4.1; and 
  
 (ii) Any
period of military service in the Armed Forces of the United States required to be credited by law; provided, however, that the Employee returns to the employment of the Company, Affiliated Company or predecessor or other employer described in
Paragraph 4.1 within the period the Employee’s reemployment rights are protected by law. 
  
 (b) Part-Time Employees: A Part-Time Employee shall complete a Year of Eligibility Service if the Employee completes at least 1,000 Hours
of Service during the twelve consecutive month period beginning with the date the Part-Time Employee commences employment or re-employment with the Company or an Affiliated Company or during any twelve consecutive month period preceding the first
day of each month thereafter. No Eligibility Service is counted for any computation period in which an Employee completes less than 1,000 Hours of Service. An “Hour of Service” means, with 

  

 -11- 

 
respect to any applicable computation period, the number of hours recorded on the Employee’s time sheets or other records used by the Employer to record
an Employee’s time for which the Employee is directly or indirectly compensated by an Employer or the number of hours for which the Employee is directly or indirectly compensated by an Affiliated Company, an other affiliated entity or a
Predecessor Company if such Predecessor Company maintained a qualified plan which is continued by an Employer, but only if such service with an Affiliated or Predecessor Company or other affiliated entity otherwise meets the requirements of this
paragraph and only to the extent the Retirement/Investments Committee so determines, consistent with regulations adopted by the Secretary of the Treasury; provided that seven hours shall be credited for each calendar day that is a scheduled workday
for the Employer, Affiliated Company, Predecessor Company or other affiliated entity, up to a total of 501 Hours of Service on account of any single continuous period during which the Employee performs no duties and for which the Employee is on:

  
 (i) a paid leave approved by the Employer,
including a personal leave of absence, vacation leave, sick leave or disability leave approved by the Employer, provided the Employee returns to Employment upon the expiration of such leave, 
  
 (ii) paid jury duty, or 
  
 (iii) Any period of military service in the Armed Forces of
the United States required to be credited by law: 
  
 The term Hour of Service shall also include each hour for which back pay, irrespective of mitigation of damages, has been awarded or agreed by an Employer. Such Hours of Service shall be credited to the Employee for the Plan Year or Years
to which the award pertains. 
  
 Hours of Service
as defined above shall be computed and credited in accordance with paragraphs (b) and (c) of section 2530.200b-2 of the Department of Labor Regulations. 
  
 4.3 Year of Vesting Service. 
  

A Full-Time or Part-Time Employee’s Vesting Service shall be measured in years and days (with each consecutive 365 days of Service being
equivalent to one Year of Vesting Service) from the date on which employment commences with the Company or an Affiliated Company (including periods of employment credited pursuant to Paragraph 4.1) to the Employee’s Severance Date. Vesting
Service shall include, by way of illustration but not by way of limitation, the following periods: 
  
 (a) Any leave of absence from employment that is authorized by the Company, by an Affiliated Company or predecessor, or other employer
described in Paragraph 4.1; and 
  

 -12- 

 (b) Any period of military service in the Armed Forces of the United States required to
be credited by law; provided, however, that the Employee returns to the employment of the Company, Affiliated Company or predecessor or other employer described in Paragraph 4.1 within the period the Employee’s reemployment rights are protected
by law. 
  
 All Years of Vesting Service prior to and subsequent
to any period of severance shall be aggregated. Notwithstanding the foregoing, if an Employee’s employment with an Employer is severed but the Employee is reemployed within 12 months following the earlier to occur of (i) the
Employee’s Severance Date or (ii) the first day of any leave of absence immediately preceding the Severance Date that does not in and of itself result in a Severance, the period of severance shall constitute Vesting Service. 
  
 4.4 Additional Service Credit. 
  
 The Retirement/Investments Committee may provide additional credit for
purposes of determining Eligibility Service or Vesting Service for periods not required to be credited under this Article IV. Any determination to provide additional credit made by the Retirement/Investments Committee under this Paragraph 4.4 shall
be made in (i) writing; (ii) a non-discriminatory manner; and (iii) accordance with the requirements of ERISA, the Code and all applicable rules and regulations. 
  

 -13- 

 ARTICLE V 
 CONTRIBUTIONS 
  
 5.1
Matchable Contributions. 
  
 (a) A
Participant’s Matchable Contributions shall mean those contributions made by the Participant’s Employer as Salary Reduction Contributions, which may be in an amount equal to a stated whole percentage, as indicated in 5.1(b) below, of the
Participant’s Compensation, subject to Paragraph 5.13. 
  
 (b) Salary Reduction Contributions and Matchable Contributions shall be determined as follows, based on whether a Participant is a Highly Compensated Participant (“HCP”) or a non-Highly Compensated
Participant (“NHCP”), as determined under Paragraph 2.26: 
  

					
	 	 	 Salary Reduction Contribution %

	 	 Matchable Contribution

	 NHCP
	 	1% to 3%	 	100% Matchable Contributions
	 	 	3% to 5%	 	  50% Matchable Contributions
			
	 HCP
	 	1% to 5%	 	  50% Matchable Contributions

  
 5.2 Unmatched
Contributions. 
  
 (a) Regular Unmatched
Contributions. A Participant’s Unmatched Contributions shall mean those contributions in excess of Matchable Contributions made by the Participant’s Employer as Salary Reduction Contributions. In no event shall the contributions made under
this Paragraph 5.2(a), when added to the Participant’s Matchable Contributions made under Paragraph 5.1, exceed 75% of the Participant’s Compensation (as determined in accordance with the limits set forth in Paragraph 5.13). 
  
 (b) Catch-Up Contributions. All Participants who are eligible
to make Salary Reduction Contributions under this Plan and who have attained age 50 before the close of the calendar year shall be eligible to make catch-up contributions in accordance with, and subject to the limitations of, Section 414(v) of
the Code. Such catch-up contributions shall not be taken into account for purposes of the Plan implementing the required limitations of Sections 402(g) and 415 of the Code. The Plan shall not be treated as failing to satisfy the provisions of the
Plan implementing the requirements of Section 401(k)(3), 401(k)(11), 401(k)(12), 410(b), or 416 of the Code, as applicable, by reason of the making of such catch-up contributions. Catch-up contributions shall not be treated as Matchable
Contributions, regardless of whether such catch-up contributions are recharacterized as regular Salary Reduction Contributions For purposes of investment, withdrawal, borrowing, and distribution of contributions, catch-up contributions shall be
treated as Salary Reduction Contributions. In no event shall the catch-up contributions made under this Paragraph 5.2(b), determined without regard to the contributions made under the preceding Paragraph 5.2(a), exceed 75% of the Participant’s
Compensation (as determined in accordance with the limitations set forth in Paragraph 5.13). 
  

 -14- 

 5.3 Election of Salary Reduction Contributions. Subject to Paragraphs 5.1 and 5.2, each
Participant may authorize through written, telephonic or electronic instructions (pursuant to procedures prescribed by the Retirement/Investments Committee) the Participant’s Employer to contribute Salary Reduction Contributions to the BIP on
the Participant’s behalf by payroll deduction, for each Payroll Period within an Accounting Period, that shall be designated as Matchable Contributions to the extent of the first 5% of the Participant’s Compensation and that shall be
designated as Unmatched Contributions to the extent such amounts exceed 5% of the Participant’s Compensation for such Plan Year. All elections were or will be effective for the first Payroll Period next following the date of receipt of the
election by the Retirement/Investments Committee. 
  
 5.4
Change in Amount or Form of Contributions. The percentage of Compensation designated by the Participant as the Participant’s Salary Reduction Contributions will continue in effect, notwithstanding any change in the Participant’s
Compensation, until the Participant elects to change such percentage. A Participant, by making an election in the manner approved by the Retirement/Investments Committee (including changes made by telephonic or electronic instruction as prescribed
by the Retirement/Investments Committee), may change the foregoing percentages at any time in the Plan Year, subject to the limitations herein. Any such change, including a complete suspension, will become effective as of the first Payroll Period
practicable following the date such election is processed. 
  
 5.5
Suspension of Contributions. If a Participant elects to suspend the Participant’s Matchable Contributions to the BIP in accordance with Paragraph 5.4, all Matching Employer Contributions to the Participant’s Account will also be
suspended. 
  
 5.6 Cessation of Contributions. Salary
Reduction Contributions of a Participant will cease to be effective with the Payroll Period that ends immediately prior to or coincident with: 
  
 (a) the Participant’s transfer to an Affiliated Company that is not an Employer, in which case the Participant’s contributions
shall be involuntarily suspended for the duration of the Participant’s employment with such Affiliated Company or entity; if such an Employee again becomes an eligible Employee and elects to become a Participant, the Employee must follow the
procedure set forth in Paragraph 3.2; 
  
 (b) the
Participant’s termination of employment for any reason including retirement, death or Disability; or 
  
 (c) the Participant’s withdrawal of amounts pursuant to Paragraph 8.1(e), but only to the extent required by such Paragraph.

  
 5.7 Matching Employer Contributions. Unless the
Retirement/Investments Committee expressly determines otherwise, during each Accounting Period, and subject to Paragraph 5.13, each Employer will contribute to the BIP an amount equal to 100% of the 100% Matchable Contributions and 50% of the 50%
Matchable Contributions made during such Accounting Period on behalf of a Participant of such Employer. Such contributions shall not be limited by the current or accumulated profits of the Employer. 
  

 -15- 

 5.8 Remittance of Contributions to Trustee. Amounts deducted from payroll as Salary Reduction
Contributions will be remitted in cash to the Trustee as soon as such contributions can reasonably be segregated from the Employer’s general assets but no later than the last day required by the Code and ERISA. Such amounts shall be credited to
the Accounts of the respective Participants in accordance with such Participants’ investment elections. 
  
 5.9 Remittance of Matching Employer Contributions to Trustee. Amounts contributed by the Employer with respect to Matching Employer Contributions
will be remitted in cash to the Trustee as soon as practicable after the end of a Payroll Period. Such amounts shall be credited to the Accounts of the respective Participants in accordance with such Participants’ investment elections.

  
 5.10 Refund of Matching Employer Contributions. All
Matching Employer Contributions are hereby conditioned on them being allowed as a deduction for federal income tax purposes by the Employer. A Matching Employer Contribution shall be, as determined by the Retirement/Investments Committee, refunded
to the Employer, used to reduce future Matching Employer Contributions or used to defray administrative expenses, if such contribution: 
  
 (a) was made by a mistake of fact; or 
  
 (b) was made conditioned upon the contribution being allowed as a deduction for federal income tax purposes and such deduction is
disallowed, including any advance determination of disallowance pursuant to any guidance issued by the IRS. 
  
 The permissible refund under (a) must be made within one year from the date the contribution was made to the BIP, and under (b) must be made
within one year from the date of disallowance of the tax deduction. Investment earnings attributable to the contributions to be returned to the Employer will not be returned to the Employer, but losses attributable to such contributions will reduce
the amount to be returned. 
  
 5.11 Correction of
Administrative Errors. If, with respect to any Plan Year, any Participant’s Account is not credited with the amounts of Matchable Contributions, Unmatched Contributions, Matching Employer Contributions, or investment earnings on any such
contributions to which such Participant is entitled under the BIP, or if an error is made with respect to the investment of the assets of the Fund, which error results in an error in the amount credited to a Participant’s Account, and such
failure is due to administrative error in determining or allocating the proper amount of such contributions or earnings, the Employer may make additional contributions to the Account of any affected Participant to best place the affected
Participant’s Account in the position approximating the position that would have existed if the error had not been made. 
  
 In addition, with respect to any Plan Year, if an administrative error results in an amount being credited to an Account for a Participant or any other
individual who is not otherwise entitled to such amount, corrective action may be taken by the Retirement/Investments Committee, including, but not limited to, a direction by the Retirement/Investments Committee to forfeit amounts erroneously
credited (with such forfeitures to be used to reduce future 

  

 -16- 

 
Matching Employer Contributions or other contributions to the Plan), reallocate such erroneously credited amounts to the Participant’s Accounts, or take
such other corrective action as is necessary under the circumstances. 
  
 Any Plan administration error may be corrected using any appropriate correction method permitted under the Employee Plans Compliance Resolution System (or any successor procedure), as determined by the Retirement/Investments Committee.

  
 5.12 Rollover Contributions. 
  
 (a) A Participant may, with the approval of the
Retirement/Investments Committee, make a Rollover Contribution. An Employee of an Employer who has not completed the eligibility requirements in Article III of the BIP may participate in the BIP solely for purposes of the rollover contribution
provisions hereunder. The Trustee shall credit the amount of any Rollover Contribution to the Participant’s Account, in accordance with the Participant’s designation, as of the date the Rollover Contribution is made. 
  
 (b) The term “Rollover Contribution” means the
contribution of an “eligible rollover distribution” to the Trustee by the Employee on or before the sixtieth (60th) day immediately following the day the contributing Employee receives the “eligible rollover distribution” or
a contribution of an “eligible rollover distribution” to the Trustee by the Employee or the trustee of another “eligible retirement plan” (as defined in Section 402(c)(8)(B) of the Code) in the form of a direct transfer
under Section 401(a)(31) of the Code. 
  
 (c)
The term “eligible rollover distribution” means: 
  
 (i) part or all of a distribution to the Employee from an individual retirement account or individual retirement annuity (as defined in Section 408 of the Code) maintained for the benefit of the Employee making
the Rollover Contribution; 
  
 (ii) part or all of
the amount received by such Employee or distributed directly to the BIP on such Employee’s behalf from an employee plan and trust described in Code Section 401(a) that is exempt from tax under Code Section 501(a), including after-tax
employee contributions; 
  
 (iii) a plan described
in Code Section 403(a), including after-tax employee contributions; 
  
 (iv) an annuity contract described in Section 403(b), excluding after-tax employee contributions; or 
  
 (v) an eligible plan under Code Section 457(b) that is maintained by a state, political subdivision of a state, or any agency or
instrumentality of a state or political subdivision of a state. 
  

 -17- 

 In all events, such amount shall constitute an “eligible rollover distribution” only if such
amount qualifies as such under Code Section 402(c) and the regulations and other guidance thereunder and is a distribution of all or any portion of the balance to the credit of the Employee from the distributing plan or IRA other than any
distribution: (1) that is one of a series of substantially equal periodic payments (not less frequently than annually) made for the life (or life expectancy) of the distributee or for a specified period of ten years or more; (2) to the
extent such distribution is required under Code Section 401(a)(9); (3) to the extent such distribution is not includible in gross income (determined without regard to the exclusion for net unrealized appreciation with respect to employer
securities); (4) that is made to a non-spouse beneficiary or (5) that is attributable to a hardship distribution of elective deferrals described in Code Section 401(k)(B)(i)(iv). 
  
 (d) Once accepted by the Trust, an amount rolled over
pursuant to this Paragraph 5.12 shall be credited to the Participant’s Accounts and invested in the investment funds in accordance with the Participant’s directions for such amounts. Thereafter, such rolled over amounts shall be
administered and invested in accordance with Articles VI and VII and shall be subject to the distribution provisions set forth in Articles VIII, X and XI. The limitations of Article XV shall not apply to Rollover Contributions. All Rollover
Contributions shall be made in cash and shall be fully vested. No Matching Employer Contributions shall be made with respect to Rollover Contributions. 
  
 5.13 Limitation on Contributions. 
  
 (a) Notwithstanding any other provisions of the BIP to the contrary, in no event may the contributions made to the BIP by or on behalf of
any Participant in any Plan Year exceed the percentage elected under Paragraphs 5.1 and 5.2, and the percentage determined under Paragraph 5.7, multiplied by the Participant’s Compensation not in excess of the annual compensation limitation in
effect under Section 401(a)(17) of the Code, as adjusted by the IRS for increases in the cost of living in accordance with Section 401(a)(17) of the Code and the regulations and other guidance issued thereunder. 
  
 (b) Notwithstanding any other provision of this Plan to the
contrary, in no event may the amount of Salary Reduction Contributions to the BIP, in addition to all such salary reduction contributions under all other cash or deferred arrangements (as defined in Code Section 401(k)) maintained by the
Company or an Affiliated Company in which a Participant participates, exceed the applicable limit imposed under Code Section 402(g) and the regulations, notices and other guidance issued thereunder. The dollar limitation shall be adjusted
annually pursuant to the method provided in Code Section 415(d) in accordance with Regulations. If such salary reduction amounts exceed the applicable limit, all such amounts in excess of the applicable limit and any income or losses allocable
to such excess amounts shall be distributed to the Participant no later than the April 15 following the calendar year in which the excess occurred. If a Participant participates in another cash or deferred arrangement in any calendar year that
is not maintained by the Company or an Affiliated Company, and the Participant’s total Salary Reduction Contributions under the BIP and such other plan exceed the applicable 

  

 -18- 

 
limit in a calendar year, the Participant may request to receive a distribution of the amount of the excess deferral (a deferral in excess of the applicable
limit) that is attributable to Salary Reduction Contribution provided that the Participant notifies the Retirement/Investments Committee of the amount of the excess deferral that is attributable to a Salary Reduction Contribution to the BIP and
requests such a distribution. The Participant’s notice must be received by the Retirement/Investments Committee no later than the March 1 following the Plan Year of the excess deferral. In the absence of such notice, the amount of such
excess deferral attributable to Salary Reduction Contributions to the BIP shall be subject to all limitations on withdrawals and distributions in the BIP. 
  
 5.14 Safe Harbor Notice. In accordance with Code Sections 401(k)(12) and 401(m)(11), each Employee eligible to participate in the Plan shall be,
within a reasonable period before any Plan year, given written notice of the Employee’s rights and obligations as an employee eligible to participate in a safe harbor plan. 
  

 -19- 

 ARTICLE VI 
 PARTICIPANT ACCOUNTS 
  
 6.1 Valuation of Assets. As of each Valuation Date, the Trustee will determine the total fair market value of all assets then held by it in each of the investment funds. Notwithstanding any other provision of the BIP, to the extent
that Participants’ Accounts are invested in mutual funds or other assets for which daily pricing is available (“Daily Pricing Media”), all amounts contributed to the Fund will be invested at the time of the actual receipt by the Daily
Pricing Media, and the balance of each Account shall reflect the results of such daily pricing from the time of actual receipt until the time of distribution. Investment elections and changes pursuant to Article VII shall be effective upon receipt
by the Daily Pricing Media. The provisions of Paragraphs 6.2 and 6.3 shall apply only to the extent, if any, that assets of the Fund are not invested in Daily Pricing Media. 
  
 6.2 Credits to Participant Accounts. Each Participant’s Account will be credited with all contributions made by
or on behalf of the Participant as well as amounts transferred to the BIP on the Participant’s behalf. Except as provided in Paragraph 6.1, the Accounts of each Participant will also be credited, as of each Valuation Date, with the
Participant’s share of the net investment income and any realized and unrealized capital gains of the investment funds that occurred since the last Valuation Date. Such Participant’s share of such income will be that portion of the total
net investment income and capital gains of each such fund that bears the same ratio to such total as the balance of the Participant’s Accounts attributable to each such fund on the preceding Valuation Date bears to the aggregate of the balances
of all Participant Accounts attributable to each such fund as of the preceding Valuation Date. 
  
 6.3 Debits to Participant Accounts. The Accounts of each Participant will be debited with the amount of any withdrawal made by the Participant pursuant to Article VIII and with the amount of any distribution
made to or on behalf of the Participant pursuant to Articles X and XI. The Accounts of each such Participant will also be debited, as of each Valuation Date, with the Participant’s share of any realized and unrealized losses, including capital
losses, of the investment funds that occurred since the last Valuation Date. The Participant’s share of any realized and unrealized losses, including capital losses, will be that portion of the total realized and unrealized losses of each such
fund that bear the same ratio to such total as the balance of the Participant’s Account attributable to each such fund on the preceding Valuation Date bears to the aggregate of the balances of all Participant Accounts attributable to each such
fund as of the preceding Valuation Date. 
  
 6.4 Statement of
Participant Accounts. As soon as practicable after the completion of a Plan Year or as often as the Retirement/Investments Committee shall direct, an individual statement will be issued to each Participant showing the value of the
Participant’s Accounts in the investment funds, and the outstanding balance due the Participant’s Loan Subaccount, if any. 
  

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 ARTICLE VII 
 INVESTMENT OF CONTRIBUTIONS 
  
 7.1 Investment of Salary Reduction Contributions and Rollover Contributions. Each Participant will direct, at the time such person elects to become a Participant under the BIP, that the Participant’s Salary Reduction
Contributions and Rollover Contributions, if any, be invested in multiples of 1% in any of the Funds. After a Participant’s initial investment of Rollover Contributions, such amounts shall be treated as Salary Reduction Contributions for
investment purposes. 
  
 7.2 Investment of Matching Employer
Contributions. Matching Employer Contributions with respect to all periods before the Effective Date initially will be invested in the Blockbuster Class A Stock Fund. Matching Employer Contributions with respect to all periods beginning on
or after the Effective Date initially will be invested in multiples of 1% in any of the Funds. 
  
 7.3 Change in Investment Election for Current Contributions. Any change in the Participant’s initial investment election under Paragraph 7.1 as to the Participant’s future Salary Reduction
Contributions shall be made in such manner as determined by the Retirement/Investments Committee (including changes made by telephonic, electronic or other instructions under terms prescribed by the Retirement/Investments Committee) and within the
limits of Paragraph 7.1, and shall be effective as soon as administratively practicable following the Retirement/Investments Committee’s receipt of the new election. 
  
 7.4 Change in Investment Election for Prior Contributions. A Participant may change the Participant’s investment
election as to the Participant’s prior Salary Reduction Contributions, in such manner as determined by the Retirement/Investments Committee (including changes made by telephonic, electronic or other instructions under terms prescribed by the
Retirement/Investments Committee), to be effective as soon as administratively practicable following the Retirement/Investments Committee’s receipt of the new election. Participants shall be permitted to change the investment of Matching
Employer Contributions invested in the Blockbuster Class A Stock Fund into any other investment funds available under the Plan. Any change in any investment pursuant to this Paragraph 7.4 shall be made in such a manner as determined by the
Retirement/Investments Committee (including changes made by telephonic, electronic or other instructions under terms prescribed by the Retirement/Investments Committee.) 
  
 7.5 Fiduciary Responsibility for Investments. The BIP is intended to constitute a plan described in ERISA
Section 404(c). To the extent permitted under ERISA, the Trustee, Retirement/Investments Committee and all other BIP fiduciaries are relieved of liability for any losses that are the direct and necessary result of all investment instructions
given by a Participant or Beneficiary. The Retirement/Investments Committee shall provide information to Participants consistent with ERISA Section 404(c) and the regulations and other guidance issued thereunder. 
  
 7.6 Trading Restrictions. Notwithstanding any provision of the Plan to
the contrary, the Retirement/Investments Committee may limit transfers among the investment funds within the Plan to the extent necessary to comply with restrictions imposed by the investment funds 

  

 -21- 

 
against market timing, short term trading or other similar trading strategies identified by the managers of the investment funds. 
  

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 ARTICLE VIII 
 WITHDRAWALS DURING EMPLOYMENT 
  
 8.1 Withdrawals of Salary Reduction Contributions, After-Tax Contributions, Matching Employer Contributions, Transferred Amounts, and Rollover Contributions; Frequency of Withdrawals. 
  
 A Participant who has not terminated employment may elect to withdraw amounts
attributable to Salary Reduction Contributions, After-Tax Contributions, Matching Employer Contributions, Rollover Contributions and certain amounts transferred to the BIP, including amounts transferred into the BIP from the Merged Plan, and
investment earnings thereon, less the amount of any outstanding loan, in accordance with the provisions of this Article VIII, and according to the order in which subparagraphs (a) through (e) are presented, as the amounts described in each
successive subparagraph are exhausted. The minimum amount for any single withdrawal, other than a withdrawal on account of financial hardship, is $500. 
  
 Except in the case of a financial hardship withdrawal under Paragraph 8.1(e), each Participant may elect only one withdrawal from the BIP in any Plan
Year. A Participant is not limited with respect to the number of withdrawals that may be made on account of a financial hardship under Paragraph 8.1(e). 
  
 (a) Withdrawals of After-Tax Contributions: 
  
 A Participant may elect to withdraw up to 100% of the Participant’s Account attributable to After-Tax
Contributions and the investment earnings thereon. Any such withdrawals shall be made in the following order, as the amounts described in each successive subparagraph are exhausted: 
  
 (i) An amount equal to all or part of the Participant’s pre-1987 After-Tax Contributions to the extent
required to exhaust such amounts; provided, however, that if the value of all amounts attributable to After-Tax Contributions plus investment earnings thereon is less than the net amount of pre-1987 After-Tax Contributions, no more than such value
may be withdrawn. 
  
 (ii) An amount equal to all
or part of the Participant’s post-1986 After-Tax Contributions, and a pro rata portion of the investment earnings on such post-1986 After-Tax Contributions to the extent required to exhaust such amounts, but no more than the current value of
all After-Tax Contributions in the event such value is less than the net amount of such post-1986 After-Tax Contributions. 
  
 (iii) An amount equal to all or part of the investment earnings on the Participant’s pre-1987 After-Tax Contributions to the extent
required to exhaust such amounts. 
  

 -23- 

 (b) Withdrawals of Transferred Amounts or Rollover Contributions: 
  
 (i) A Participant who has had amounts credited to the
Participant’s Account attributable to the Viacom Employee Stock Ownership Plan may elect to withdraw such amounts and the investment earnings thereon. 
  
 (ii) A Participant who has made Rollover Contributions to the BIP may elect to withdraw up to 100% of such Rollover Contributions and
investment earnings thereon. 
  
 (iii) Any
withdrawal of after-tax Rollover Contributions contributed to the Plan after December 31, 2001, shall include a pro rata portion of the investment earnings on such contributions. 
  
 (c) Withdrawals of Matching Employer Contributions: 
  
 (i) A Participant whose combined years of participation in
the VIP or the BIP is at least 5 years may elect to withdraw up to 100% of the Participant’s Matching Employer Contributions contributed prior to January 1, 2001 and the investment earnings thereon. 
  
 (ii) A Participant who has attained age 59 1/2 may elect to withdraw up to 100% of the Participant’s Matching Employer Contributions and the investment
earnings thereon. 
  
 (d) Withdrawals of
Salary Reduction Contributions After Attainment of Age 59 1/2: 
  
 A Participant who has
attained age 59 1/2 may elect to withdraw up to 100% of the Salary Reduction Contributions made to the BIP on the
Participant’s behalf (including recharacterized Salary Reduction Contributions treated as Salary Reduction Contributions, if any), and the investment earnings thereon. 
  
 (e) Withdrawals on Account of Financial Hardship: 
  
 Upon submission of satisfactory evidence by a Participant of
a financial hardship, as defined in this Paragraph 8.1(e), the Retirement/Investments Committee may direct distribution of part or all of the value of such Participant’s vested Matching Employer Contributions and Salary Reduction Contributions,
and investment earnings thereon, but only to the extent required to relieve such financial hardship, taking into account such additional amounts necessary to pay any federal, state, or local income taxes or penalties reasonably anticipated to result
from the distribution; provided that (i) prior to attaining age 59 1/2, a Participant may only elect to
withdraw the vested portion of the Participant’s Matching Employer Contributions contributed prior to January 1, 2001; and (ii) withdrawals shall be taken from Matching Employer Contributions prior to being taken from Salary Reduction
Contributions. No such withdrawal shall be permitted unless the Participant has previously or concurrently withdrawn all amounts otherwise available to the Participant under this Paragraph 8.1. In no event may the Retirement/Investments

  

 -24- 

 
Committee direct that such a withdrawal be made to the extent the financial hardship may be relieved from other resources that are reasonably available to
the Participant. 
  
 A Participant shall be deemed
to have no other resources reasonably available if: (i) the Participant has obtained all withdrawals and distributions currently available to the Participant under the BIP and all other qualified defined contribution plans maintained by the
Company or an Affiliated Company; (ii) the Participant has obtained all nontaxable loans reasonably available under the BIP and all other qualified defined contribution plans maintained by the Company or an Affiliated Company, to the extent
taking such loan would alleviate the immediate and heavy financial need and only to the extent any required repayment of such loan would not itself cause an immediate and heavy financial need; and (iii) the Participant agrees to cease all
Salary Reduction Contributions, as well as all similar contributions to all other qualified defined contribution and non-qualified deferred compensation plans maintained by the Company or an Affiliated Company for a period, of at least six months
from the date of the hardship withdrawal. 
  
 For
purposes of this Paragraph 8.1(e), the term “financial hardship” shall be determined in accordance with regulations (and any other rulings, notices, or documents of general applicability) issued pursuant to Section 401(k) of the Code
and, to the extent permitted by such authorities, shall be limited to any financial need arising from: 
  
 (i) medical expenses (as defined in Section 213(d) of the Code) previously incurred by the Participant or a Participant’s spouse
or dependent or expenses necessary for these persons to obtain medical care (as defined in Section 213(d) of the Code) that, in either case, are not covered by insurance, 
  
 (ii) expenses relating to the payment of tuition and related educational fees, including room and board, for
the next twelve months of post-secondary education of a Participant, the Participant’s spouse or dependent, 
  
 (iii) expenses directly relating to the purchase (excluding mortgage payments) of a primary residence for the Participant, 
  
 (iv) expenses relating to the need to prevent the eviction of
the Participant from the Participant’s principal residence or foreclosure on the mortgage of the Participant’s principal residence, 
  
 (v) payments for burial or funeral expenses for the Participant’s deceased parent, spouse, children or dependents (as defined in Code
Section 152, without regard to Section 152(d)(1)(B)), 
  
 (vi) Expenses for the repair of damage to the Participant’s principal residence that would qualify for the casualty deduction under Code Section 165 (determined without regard to whether the loss exceeds 10%
of adjusted gross income), 
  
 (vii) expenses
relating to an immediate and heavy financial need as determined in a uniform and nondiscriminatory manner by the 

  

 -25- 

 
Retirement/Investments Committee based upon the facts and circumstances of a particular situation. 
  
 Notwithstanding anything in the preceding paragraph to the
contrary, the term “financial hardship” includes a financial need arising from expenses for food, shelter, transportation and other similar needs incurred by Participants, their spouses or other dependents whose principal residence is
located in the federally-declared disaster areas impacted by Hurricane Katrina in Alabama, Florida, Louisiana and Mississippi provided that the Committee shall not approve any withdrawal pursuant to this paragraph after December 31, 2005.

  
 There is no minimum withdrawal required under
this Paragraph 8.1(e). Hardship withdrawals shall be paid in a single cash payment and on a pro-rata basis for the investment funds (other than the Blockbuster Class A Stock Fund, the Blockbuster Class B Stock Fund, the Viacom Class A
Stock Fund or the Viacom Class B Stock Fund) in which the Participant’s Account is invested. For any withdrawal under this Paragraph 8.1(e), the portion of the Participant’s Account attributable to Salary Reduction Contributions that is
available for withdrawal shall not exceed the lesser of: (i) the value of such Salary Reduction Contributions as of December 31, 1988 (taking into account investment earnings thereon), plus the total amount of the Participant’s Salary
Reduction Contributions that are made after December 31, 1988, or (ii) the value of all Salary Reduction Contributions (taking into account investment earnings thereon). 
  
 8.2 Withdrawal Procedures. A Participant, by filing a request in accordance with such rules as are required by the
Retirement/Investments Committee, may elect to withdraw amounts pursuant to Paragraph 8.1. Such withdrawals shall be subject to the following: 
  
 (a) All requests for withdrawals shall be reviewed by the Retirement/Investments Committee. Each approved withdrawal application shall be
forwarded by the Retirement/Investments Committee to the Trustee as soon as practicable after Retirement/Investments Committee approval. Withdrawals shall be paid as soon as practicable after the Valuation Date on which proper payment instructions
are received by the Trustee, based on the amount specified in the Participant’s request and the amount available for withdrawal in the Participant’s Accounts. Investment earnings and losses will not be credited on the amounts to be
withdrawn after the applicable Valuation Date. 
  
 (b) All withdrawals shall be paid in a cash lump sum. 
  
 (c) Notwithstanding anything herein to the contrary, and in the absence of express approval by the Retirement/Investments Committee, no withdrawal may be made by a Participant during the period in which the
Retirement/Investments Committee is making a determination of whether a domestic relations order affecting the Participant’s Account is a qualified domestic relations order, within the meaning of Section 414(p) of the Code. Further, if the
Retirement/Investments Committee is in receipt of a qualified domestic relations order with respect to any Participant’s Account, it may prohibit such 

  

 -26- 

 
Participant from making a withdrawal until the alternate payee’s rights under such order are satisfied. 
  
 8.3 Funds to be Charged with Withdrawal. Distributions will be made
out of the Participant’s interest in each of the investment funds in proportion to the Participant’s interest in these investment funds. Notwithstanding the foregoing, withdrawals of Matching Employer Contributions shall be charged to the
Viacom Class B Stock Fund, the Blockbuster Class A Stock Fund or the Blockbuster Class B Stock Fund, and shall be paid in a cash lump sum. 
  

 -27- 

 ARTICLE IX 
 PARTICIPANT LOANS 
  
 9.1
Loan Subaccounts. Loans from the BIP may be made to all Participants and Beneficiaries who are “parties in interest” within the meaning of ERISA Section 3(14) and to Employees who have made Rollover Contributions to the BIP but
who have not met the age and service eligibility requirements of Article III. Such individuals are referred to herein as “Eligible Borrowers.” Within each Eligible Borrower’s Account, there shall be maintained a Loan Subaccount solely
for the purpose of effecting loans from the Eligible Borrower’s Account to the Eligible Borrower. 
  
 9.2 Eligibility for Loans. 
  
 Only one loan under the BIP may be outstanding at any time for each Eligible Borrower. An Eligible Borrower may obtain another loan as soon as is
administratively feasible after the date of repayment. If, on May 1, 1999, an Eligible Borrower had a loan outstanding as a result of the Eligible Borrower’s participation in the VIP, such Eligible Borrower may not obtain a loan from the
BIP until any such prior loan is repaid in full. 
  
 9.3
Availability of Loans. 
  
 (a) Application
for a loan must be made to the Retirement/Investments Committee in the manner prescribed by the Retirement/Investments Committee. The decisions by the Retirement/Investments Committee on loan applications shall be made on a reasonably equivalent,
uniform and nondiscriminatory basis and within a reasonable period after each loan application is received. Notwithstanding the foregoing, the Retirement/Investments Committee representatives may apply different terms and conditions for loans to
Eligible Borrowers who are not actively employed by an Employer, or for whom payroll deduction is not available, based on economic and other differences affecting the individuals’ ability to repay any loan. 
  
 (b) Notwithstanding anything herein to the contrary, and in
the absence of express approval by the Retirement/Investments Committee, no loan shall be made to an Eligible Borrower during a period in which the Retirement/Investments Committee is making a determination of whether a domestic relations order
affecting the Eligible Borrower’s Accounts is a qualified domestic relations order, within the meaning of Section 414(p) of the Code. Further, if the Retirement/Investments Committee is in receipt of a qualified domestic relations order
with respect to any Eligible Borrower’s account, it may prohibit such Eligible Borrower from obtaining a loan until the alternate payee’s rights under such order are satisfied. 
  
 9.4 Amount of Loan. 
  
 A BIP loan shall be derived from the Eligible Borrower’s vested interest in the Eligible Borrower’s Accounts, determined as of the Valuation
Date on which the Trustee receives proper loan disbursement instructions, which shall be forwarded to the Trustee by the Retirement/Investments Committee as soon as practicable after its review and approval of the loan application. Loans shall be
made in increments of $100, rounded down to the nearest $100. 

  

 -28- 

 
The minimum loan available is $500. The maximum loan available is the lesser of 50% of the Eligible Borrower’s vested interest in the Eligible
Borrower’s Accounts or $50,000 (determined by aggregating loans from all qualified defined contribution plans of the Company or any Affiliated Company), reduced by the highest aggregate outstanding balance of all plan loans from all defined
contribution plans of the Company or any Affiliated Company to such Eligible Borrower during the twelve-month period ending on the day before the loan is made. 
  

9.5 Terms of Loan. 
  
 (a) A loan shall be secured by a lien on the Eligible Borrower’s interest in the BIP, to the maximum extent permitted by the relevant
provisions of the Code, ERISA, and any regulations or other guidance issued thereunder. 
  
 (b) The interest rate on a loan shall be established by the Retirement/Investments Committee on the date that the loan is approved by a
Retirement/Investments Committee representative and shall be equal to 1% above the annual prime commercial rate as published in the Wall Street Journal on the first day of the calendar quarter during which such loan application is approved.

  
 (c) Subject to Paragraph 9.6, the principal
amount and interest on a loan shall be repaid no less frequently than quarterly by level payroll deductions during each Payroll Period in which the loan is outstanding. Unless the loan is used within a reasonable time for the purpose of acquiring
the principal residence of the Eligible Borrower, the Eligible Borrower may elect a repayment term of any number of months from 12 to 60 months from the date of the first Payroll Period practicable coincident with or next following the distribution
of the loan from the BIP. If the loan is to be used within a reasonable time for the purpose of acquiring the principal residence of the Eligible Borrower, the Eligible Borrower may elect a repayment term of any number of months from 12 to 300
months from the date of the first Payroll Period practicable coincident with or next following the distribution of the loan from the BIP. 
  
 (d) Each loan shall be evidenced by a promissory note, evidencing the Eligible Borrower’s obligation to repay the borrowed amount to
the BIP, in such form and with such provisions consistent with this Article IX as are acceptable to the Trustee. All promissory notes shall be deposited with the Trustee. 
  
 (e) Under the terms of the loan agreement, a Retirement/Investments Committee representative may determine a
loan to be in default, and may take such actions upon default, in accordance with Paragraph 9.7. 
  
 (f) If an Eligible Borrower is transferred from employment with an Employer to employment with an Affiliated Company or another entity
affiliated with the Employer, the Retirement/Investments Committee may determine that the Eligible Borrower shall not be treated as having terminated employment and the Retirement/Investments Committee may make arrangements for the loan to be repaid
in accordance with the loan agreement. For this purpose, the Retirement/Investments Committee may, but is not required to, authorize the transfer of the loan to a qualified 

  

 -29- 

 
plan maintained by such Affiliated Company. In the absence of such arrangements, the loan shall be deemed to be in default, and shall be subject to the
provisions of Paragraph 9.7. 
  
 9.6 Distribution and Repayment
of Loan. 
  
 (a) The loan proceeds shall be
transferred to the Eligible Borrower’s Loan Subaccount by the Trustee and shall be derived from the Eligible Borrower’s interest in the Funds on a pro rata basis. Amounts transferred to such Subaccount shall reflect the value of the
Eligible Borrower’s interest as of the Valuation Date on which such transfer shall occur. The loan proceeds shall be distributed from the Loan Subaccount to the Eligible Borrower as soon as administratively practicable. 
  
 (b) Repayments of BIP loans shall be made to the Eligible
Borrower’s Loan Subaccount. Such repayments shall be transferred from the Loan Subaccount and credited to the Eligible Borrower’s Accounts and invested in the Funds in the same proportions as the Eligible Borrower’s current
contributions are invested, as soon as practicable after they are received by the Loan Subaccount. Eligible Borrowers may prepay the entire amount due under the loan at any time without penalty. Notwithstanding the foregoing, a loan may provide that
no payments will be made for the duration of a calendar year in which an Eligible Borrower is on leave without pay; provided that if an Eligible Borrower commences such a leave during the last quarter of a year, the loan may provide that payments
need not recommence until the end of the calendar year after the year in which the leave occurs. 
  
 9.7 Events of Default and Action Upon Default. 
  
 (a) In the event that an Eligible Borrower does not repay a BIP loan at such times as are required by the terms of the loan, such loan
shall be in default and the unpaid balance of the loan, together with interest thereon shall become due and payable. Further, upon an Eligible Borrower’s termination of employment (including by reason of retirement, Disability, death or the
sale of the business at which such individual is employed, whether or not the sale is a distributable event under Code Section 401(k) and the regulations thereunder), such loan shall be in default. If, before a loan is repaid in full, a
distribution is required to be made from the BIP to an Alternate Payee under a qualified domestic relations order (as defined in Section 414(p) of the Code and Section 206(d) of ERISA) and the amount of such distribution exceeds the value
of the Eligible Borrower’s interest in the BIP less the amount of such outstanding loan, the unpaid balance thereon shall become immediately due and payable. The Retirement/Investments Committee shall direct the Trustee to satisfy the
indebtedness to the BIP before making any payments to the Eligible Borrower or any alternate payee. In addition to the foregoing, the loan agreement may include such other events of default as the Retirement/Investments Committee shall determine are
necessary or desirable. 
  
 (b) Upon the default
of any Eligible Borrower, the Retirement/Investments Committee may direct the Trustee to take such action as it may reasonably determine to be necessary in order to preclude the loss of principal and interest, including: 
  

 -30- 

 (i) demanding repayment of the outstanding amount on the loan (including principal and
accrued interest); or 
  
 (ii) if the loan is not
repaid or if other repayment arrangements are not established, causing a foreclosure of the loan to occur by distributing the promissory note to the Eligible Borrower or otherwise reducing the Eligible Borrower’s Account by the value of the
loan. For these purposes, such loan shall be deemed to have a fair market value equal to its face value reduced by any payments made thereon by the Eligible Borrower. In the event of any default, the Eligible Borrower’s prior request for a loan
shall be treated as the Eligible Borrower’s consent to an immediate distribution of the promissory note representing a distribution of the unpaid balance of any such loan. The loan agreement shall include such provisions as are necessary to
reflect such consent. In all events, however, to the extent a loan is secured by Salary Reduction Contributions or Matching Employer Contributions made after December 31, 2000, no foreclosure on the Eligible Borrower’s loan shall be made
until the earliest time Salary Reduction Contributions or Matching Employer Contributions made after December 31, 2000 may be distributed without violating any provisions of Code Section 401(k) and the regulations issued thereunder.

  
 9.8 Military Service. Notwithstanding any other
provision of the Plan to the contrary, loan repayments may be suspended during periods that the Eligible Borrower is performing services in the uniformed services, whether or not that service is qualified military service. If loan repayments are
suspended during a period of service in the uniformed services, that period of service will be disregarded for all Plan purposes in accordance with Code Section 414(u). 
  

 -31- 

 ARTICLE X 
 VESTING AND TERMINATION OF EMPLOYMENT 
  
 10.1 Matchable, Unmatched and Rollover Contributions. A Participant shall be fully vested at all times in the portion of the Participant’s Account attributable to Matchable Contributions, Unmatched
Contributions, and Rollover Contributions. 
  
 10.2 Matching
Employer Contributions. Each Participant shall be fully vested at all times in the portion of the Participant’s Account attributable to Matching Employer Contributions. 
  
 10.3 Forfeitures. 
  
 Subparagraphs (a) through (c) below apply to Participants who terminated employment prior to January 1, 2001. 
  
 (a) Termination of Employment and Distribution Made.
If a Participant terminated employment prior to the date on which the Participant was fully vested in the Participant’s Account and has received a distribution of such Account, the non-vested portion of the Participant’s Account shall be
forfeited and used as soon as practicable after any Accounting Period to reduce future Matching Employer Contributions, to defray administrative expenses of the BIP, to correct an error made in allocating amounts to Participant’s Accounts or
resolve any claim filed under the BIP in accordance with Paragraph 12.3 or 12.4, and to restore Participants’ Accounts in accordance with Paragraph 10.3(b). 
  
 (b) Restoration of Account Balance. If an amount of a Participant’s Account has been forfeited
in accordance with Paragraph (a) above, that amount shall be subsequently restored to the Participant’s Account provided (i) the Participant is reemployed by an Employer before the Participant has a period of five consecutive one-year
periods of Severance (as defined in Paragraph 2.44) and (ii) the Participant repays to the BIP within five (5) years of the Participant’s reemployment a cash lump sum payment equal to the full amount distributed to the Participant
from the BIP on account of the Participant’s termination of employment. Any amounts to be restored by an Employer to a Participant’s Account shall be taken first from any forfeitures that have not as yet been applied against Matching
Employer Contributions or administrative expenses and if any amounts remain to be restored, the Employer shall make a special contribution equal to those amounts. 
  
 (c) Termination of Employment and No Distribution Made. If (i) a Participant terminated
employment prior to the date on which the Participant was fully vested in the Participant’s Accounts, (ii) the total value of the Participant’s vested interest in the Participant’s Accounts in this Plan exceeds $5,000,
(iii) the Participant does not consent to receive a distribution of such Accounts, and (iv) the Participant is not reemployed by an Employer before the end of five consecutive one-year periods of Severance, the non-vested portion of the
Participant’s Accounts shall be forfeited as of the close of the fifth one year Break in Service and used, not later than as of the last day 

  

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of the Plan Year in which the forfeiture occurs, to reduce future Matching Employer Contributions, to defray administrative expenses of the BIP, and to
restore Participants’ Accounts in accordance with Paragraph 10.3(b). 
  
 10.4 Lost Participants or Beneficiaries. If a Participant or Beneficiary cannot be located by reasonable efforts of the Retirement/Investments Committee within a reasonable period of time after the latest date
such amounts are otherwise payable under the BIP, the amount in such Participant’s Accounts shall be forfeited and used, not later than as of the last day of the Plan Year in which the forfeiture occurs, to reduce future Matching Employer
Contributions, to defray administrative expenses of the BIP, and to restore Participants’ Accounts in accordance with Paragraph 10.3(b). Such forfeited amount shall be restored (without earnings) if, at any time, the Participant or Beneficiary
who was entitled to receive such amount when it first became payable shall, after furnishing proof of their identity and right to make such claim to the Retirement/Investments Committee, file a written request for such amount with the
Retirement/Investments Committee. 
  

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 ARTICLE XI 
 PAYMENT OF ACCOUNTS OTHER THAN WITHDRAWALS 
  
 11.1 Right to Payment. Upon a Participant’s termination of employment for any reason or Disability, the Participant (or, in the event of death, the Participant’s Beneficiary) shall be entitled to
receive a distribution of the Participant’s vested interest in the Participant’s Accounts in accordance with the provisions of this Article XI. 
  
 11.2 Forms of Payment. 
  
 (a) Subject to any other provision in this Article XI to the contrary, any Participant may, not more than ninety days before the date an
amount is to be paid from the BIP, file with the Retirement/Investments Committee an election to have the Participant’s Account paid to the Participant (or, in the event of death, to the Participant’s Beneficiary) in accordance with the
options described in sections (i) and (ii) of this Paragraph 11.2(a): 
  
 (i) In such manner of annual installments, not in excess of twenty, as such Participant shall so elect, and, in the event of the
Participant’s death prior to the receipt of all such installments, the balance of such installments to the Participant’s Beneficiary; provided, however, that payments shall not extend over a period exceeding the period over which payments
may be made pursuant to Section 401(a)(9) of the Code and the regulations and other guidance thereunder; and provided, further, that the Beneficiary may elect, as soon as practicable after the Participant’s death, to have the balance of
the Participant’s Account paid to the Beneficiary in a single payment. 
  
 (ii) In a single payment. 
  
 (b) A Participant may, not more than ninety days before an amount is to be paid from the BIP, modify or revoke any form of payment specified in Paragraph 11.2 theretofore made by the Participant. A Former
Participant who has elected to receive the Participant’s BIP distribution in the form of installment payments, and whose installment payments have commenced, may modify or revoke the Participant’s decision to receive such installment
payments. 
  
 11.3 Stock Election. If the total value of a
Former Participant’s Accounts in this Plan exceeds $5,000, such a Former Participant (or Beneficiary, if such person is deceased) may, not less than thirty days before the date the entire interest in the BIP is to be paid or commence to be
paid, or such other date that the Retirement/Investments Committee approves, file with the Retirement/Investments Committee an election to have that portion of the Account consisting of the value of the Stock and cash credited to the Account and
invested in the Blockbuster Class A Stock Fund, the Blockbuster Class B Stock Fund, the Viacom Class A Stock Fund or the Viacom Class B Stock Fund, paid to such person (or, in the event of death, to such person’s Beneficiary), to the
extent possible, in shares of stock (in lieu of cash). Any such Participant may also, not less than thirty days before the date the Participant’s entire interest in the BIP is to be paid or commence to be paid, revoke any such election
theretofore made by the Participant. 
  

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 11.4 Timing of Payment. Subject to the provisions of Paragraph 14.3 regarding qualified domestic
relations orders, if the value of a Former Participant’s Accounts in this Plan does not exceed $1,000, such amount shall be paid to such Former Participant (or, in the event of death, to such person’s Beneficiary) in a single cash payment
as soon as practicable thereafter. Subject to the provisions of Paragraph 14.3 regarding qualified domestic relations orders, if the value of such Former Participant’s Accounts in this Plan, is greater than $1,000, payment of the value of such
Participant’s Accounts, determined in accordance with Paragraph 11.5, shall be made by the Participant as soon as practicable after the earliest of: (a) the date as of which the Participant or the Participant’s Beneficiary consents to
a distribution (which distribution may not be scheduled to commence (i) earlier than 30 days after the Participant receives information regarding such distribution and (ii) later than ninety days after such Participant elects to receive
the distribution); or (b) the date required by Paragraph 11.7. Notwithstanding the foregoing, distribution of a Participant’s Account under the Plan may occur prior to thirty (30) days after the Participant receives information
regarding such distribution, provided (i) the Retirement/Investments Committee informs the Participant that the Participant has a right to a period of at least thirty (30) days after receiving the information to consider the decision of
whether to receive an immediate distribution; and (ii) the Participant, after receiving the information, affirmatively elects to receive an immediate distribution. For purposes of determining the $1,000 vested balance threshold provided under
this paragraph, the value of the Participant’s vested Account shall include any Rollover Contributions (and investment earnings thereon) within the meaning of Code Sections 402(c), 403(a)(4), 403(b)(8), 408(d)(3)(A)(ii), and 457(e)(16).

  
 Notwithstanding anything herein to the contrary, in no event
may a Former Participant elect to receive a payment of such person’s Accounts in any form of payment other than those specified in Paragraph 11.2. All distributions under this Article XI shall be made by the Trustee only after the Trustee
receives instructions to make such distribution from the Retirement/Investments Committee. The Participant must submit to the Retirement/Investments Committee such election and distribution forms in such manner as required by the
Retirement/Investments Committee. The Retirement/Investments Committee shall review such forms and, upon approval of the distribution request, forward payment instructions to the Trustee as soon as practicable thereafter. 
  
 11.5 Valuation and Payment Procedures for Lump Sum Payments.

  
 (a) No Stock Election in Effect: If a
Former Participant shall have elected to receive payment in the form of a single sum cash payment, or if payments are to be made to a Former Participant’s Beneficiary in the form of a single sum cash payment, the Former Participant’s
Accounts shall be valued as of the Valuation Date on which proper payment instructions are received by the Trustee and such amount shall be paid to the Former Participant or Beneficiary in cash as soon as practicable thereafter. To the extent
amounts in such Former Participant’s Account are credited to the Blockbuster Class A Stock Fund, the Blockbuster Class B Stock Fund, the Viacom Class A Stock Fund or the Viacom Class B Stock Fund on such Former Participant’s
behalf, the shares of stock held in such fund and credited to such Former Participant’s Account shall be sold as soon as practicable after the applicable Valuation Date and the proceeds of such sale shall be distributed as a part of such single
sum distribution. 
  

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 (b) Stock Election in Effect: If a Former Participant shall have elected to
receive payment in the form of a single sum payment, or if payments are to be made to a Former Participant’s Beneficiary in the form of a single sum payment, and such Former Participant or Beneficiary shall have made a stock election in
accordance with Paragraph 11.3, the Former Participant’s Accounts shall be valued as of the Valuation Date on which proper payment instructions are received by the Trustee. To the extent amounts in such Former Participant’s Accounts are
credited to the Blockbuster Class A Stock Fund, the Blockbuster Class B Stock Fund, the Viacom Class A Stock Fund or the Viacom Class B Stock Fund, on such Former Participant’s behalf, such Former Participant, or Beneficiary, shall
receive a distribution as soon as practicable after the applicable Valuation Date of the entire number of whole shares of stock in such person’s Accounts credited to the Blockbuster Class A Stock Fund, the Blockbuster Class B Stock Fund,
the Viacom Class A Stock Fund or the Viacom Class B Stock Fund, plus cash for any remaining amounts credited to such fund or funds on behalf of such Former Participant as of the applicable Valuation Date. The remainder of the Former
Participant’s Accounts shall be distributed to the Former Participant or Beneficiary in a single cash sum as soon as practicable after the applicable Valuation Date. 
  
 11.6 Valuation and Payment Procedures for Installment Payments. If a Former Participant or Beneficiary shall have
elected to receive payment in the form of installment payments, the Former Participant’s Accounts shall be valued as of the Valuation Date on which proper payment instructions are received by the Trustee. Such Accounts shall continue to be
valued as of the Valuation Date on which each subsequent installment payment is to be made. Such Accounts shall continue to be so valued to and including the Valuation Date as of which such Former Participant’s Account shall have been paid in
full if installment payments continue, or to and including the Valuation Date coincident with the date the Trustee is notified of such Former Participant’s death if such Participant’s Beneficiary elects to have the remaining installments
paid in a single payment, as the case may be. Notwithstanding anything herein to the contrary, the amount distributed for each installment shall be paid proportionately from the specific investment funds in which the Former Participant’s
Accounts are invested. 
  
 (a) No Stock
Election in Effect: If a stock election of such Former Participant shall not be in effect: 
  
 (i) Such Former Participant’s interest in the funds, including the value of the stock and cash then credited to the Blockbuster
Class A Stock Fund, the Blockbuster Class B Stock Fund, the Viacom Class A Stock Fund or the Viacom Class B Stock Fund on such Former Participant’s behalf shall be determined as of the applicable Valuation Date. 
  
 (ii) An installment payment shall be paid to such Former
Participant or Beneficiary, as the case may be, in an amount equal to that fraction of the respective amounts determined pursuant to the provisions of Subsection (i) of this Subparagraph, the numerator of which shall be one and the denominator
of which shall be the total number of installments remaining to be paid in the form of payment to such Former Participant or Beneficiary. 
  

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 (iii) If such Former Participant shall die prior to the payment of the Account in full
and a single sum cash distribution is to be made to such Former Participant’s Beneficiary, such distribution shall be made in accordance with Paragraph 11.5(a), determined as of the Valuation Date on which proper payment instructions are
received by the Trustee. 
  
 (b) Stock Election
in Effect: If a stock election of such Former Participant shall be in effect: 
  
 (i) The calculation of the amount of the installment payments shall be made in accordance with the provisions of the preceding
subparagraph (a), provided that such Former Participant or Beneficiary, as the case may be, shall receive as a part of each installment payment the number of whole shares of stock, equal to the product of the fraction determined pursuant to the
provisions of Subsection (ii) of the preceding Subparagraph (a) multiplied by the number of shares of stock credited to the Blockbuster Class A Stock Fund, the Blockbuster Class B Stock Fund, the Viacom Class A Stock Fund or the
Viacom Class B Stock Fund in the Account of such Former Participant as of the applicable Valuation Date. 
  
 (ii) If such Former Participant shall die prior to the payment of the Account in full and a single sum distribution is to be made to such
Former Participant’s Beneficiary, such distribution shall be made in accordance with Paragraph 11.5(b), determined as of the Valuation Date on which proper payment instructions are received by the Trustee. 
  
 11.7 Time of Payment. Unless the Participant elects otherwise, the
payment of the value of a Participant’s vested Accounts under the Plan shall be payable not later than the sixtieth day after the latest of the close of the Plan Year in which he: 
  
 (a) Attains age 65; 
  

(b) Completes 10 years of participation under the plan; or 
  
 (c) Incurs a termination of employment. 
  
 If no election is received, the Participant is deemed to have elected to defer the Participant’s distribution.

  
 11.8 Minimum Distribution Requirements. Notwithstanding
anything to the contrary herein, with respect to distributions made to Participants who attained age 70 1/2 prior
to January 1, 1997, the Accounts of each Participant were required to be distributed or commenced to be distributed, in accordance with Section 401(a)(9) of the Code and the regulations issued thereunder, not later than the April 1
following the end of the calendar year in which the Participant attained age seventy and one-half (70 1/2),
regardless of whether the Participant’s employment with the Company was terminated as of such date provided, however, if a Participant is not a five percent (5%) owner (as defined in Section 416(i)(1)(B) of the Code) and shall have
attained age seventy and one-half (70 1/2) before January 1, 1988, the Accounts of any

  

 -37- 

 
such Participant shall be distributed or shall commence to be distributed not later than the April 1 following the calendar year in which the
Participant terminates employment; provided further, that if a Participant attained age 70 1/2 on or after
January 1, 1996 but prior to January 1, 1997, such Participant could elect, in accordance with procedures established by the Retirement/Investments Committee, to commence distributions in accordance with the following paragraph. Any such
minimum distributions shall be calculated in accordance with Code Section 401(a)(9) and the regulations and other guidance issued thereunder, and in the form of annual payments over the life expectancy of the Participant, which life expectancy
will not be recalculated. 
  
 With respect to Participants
who are not five percent (5%) owners (as defined in Section 416(1)(B) of the Code) and who (i) attain age 70 1/2 on or after January 1, 1997 or (ii) are eligible and elect to defer their distributions in accordance with this Paragraph, the Accounts of any Participant shall be distributed or shall commence to be distributed in
accordance with Code Section 401(a)(9) and the regulations and other guidance issued thereunder not later than the April 1 following the close of the calendar year in which the Participant terminates employment or attains age 70 1/2, whichever is later. The Accounts of any Participant who is a 5% owner shall be distributed or shall commence to
be distributed in accordance with Code Section 401(a)(9) and the regulations and other guidance issued thereunder not later than the April 1 following the close of the calendar year in which the Participant attains age 70 1/2. 
  
 Notwithstanding anything in this Article XI to the contrary, the payment of any Account hereunder, in accordance with Section 401(a)(9) of the Code,
generally shall be paid or commence to be paid not later than one year after the date of the Participant’s death (or such later date as allowed by regulations issued by the IRS), or in the case of payments to a Participant’s spouse, the
date on which the Participant would have attained age seventy and one-half (70 1/2), if later. Further, such
payments shall be distributed within a five year period following the Participant’s death unless payable over the life of the Beneficiary or a period not extending beyond the life expectancy of such Beneficiary. 
  
 Notwithstanding the foregoing provisions of this Paragraph 11.8, effective
with respect to distributions under the Plan made for calendar years beginning on or after January 1, 2001, the Plan will apply the minimum distribution requirements of Code Section 401(a)(9) in accordance with the regulations under
Section 401(a)(9) that were proposed on January 17, 2001, until the end of the 2002 Plan Year. Effective for Plan Years beginning on or after January 1, 2003, the Plan will apply the minimum distribution requirements of
Section 401(a)(9) of the Code in accordance with the regulations that were finalized on April 17, 2002. 
  
 11.9 Direct Rollover Distributions. 
  
 (a) At the written request of a Participant, a surviving spouse of a Participant, or a spouse or former spouse of a Participant that is an
alternate payee under a qualified domestic relations order as defined in Section 414(p) of the Code, (referred to as the “distributee”) and upon receipt of the written direction of the Retirement/Investments Committee, the Trustee
shall effectuate a direct rollover distribution of the amount requested by the distributee, in accordance with Section 401(a)(31) of the Code, to an eligible retirement plan (as defined in Section 402(c)(8)(B) of the Code). Such amount

  

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may constitute all or any whole percent of any distribution from the BIP otherwise to be made to the distributee, provided that such distribution constitutes
an “eligible rollover distribution” as defined in Section 402(c) of the Code and the regulations and other guidance issued thereunder. All direct rollover distributions shall be made in accordance with the following Subparagraphs
11.9(b) through 11.9(h). 
  
 (b) A distributee may
elect to have a direct rollover distribution apportioned among no more than two eligible retirement plans. 
  
 (c) Direct rollover distributions shall be made, in accordance with such forms and procedures as may be established by the
Retirement/Investments Committee and to the extent any such distribution is to be made in shares of stock otherwise distributable under the BIP to the distributee, such shares shall be registered in a manner necessary to effectuate a direct rollover
under Section 401(a)(31) of the Code. 
  
 (d)
After-Tax Contributions may be distributed to an eligible retirement plan through a direct rollover distribution. 
  
 (e) No direct rollover distribution shall be made unless the distributee furnishes the Retirement/Investments Committee with such
information as the Retirement/Investments Committee shall require and deems to be sufficient. 
  
 (f) A distributee may elect to divide an eligible rollover distribution into two components, with one portion paid as a direct rollover
distribution and the remainder paid to the distributee, provided that such division of payments shall be permitted only if the amount of the direct rollover distribution is at least equal to $500. 
  
 (g) No direct rollover distributions shall be permitted
unless the amount of the distribution exceeds $200. 
  
 (h) Direct rollover distributions shall be treated as all other distributions under the BIP and shall not be treated as a direct trustee-to-trustee transfer of assets and liabilities. 
  

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 ARTICLE XII 
 ADMINISTRATION OF THE BIP 
  
 12.1 Appointment of Retirement/Investments Committee. The Board shall appoint the Retirement/Investments Committee that shall consist of at least three (3) persons who shall be responsible for the administration of this
Plan. The members of the Retirement/Investments Committee shall not receive compensation with respect to their services as a member of the Retirement/Investments Committee. The members of the Retirement/Investments Committee shall serve without bond
or security for the performance of their duties hereunder unless applicable law makes the furnishing of such bond or security mandatory or unless required by the Company. The Company may pay the premiums on any bond secured under this Paragraph
including the purchase of fiduciary liability insurance for any person who becomes a fiduciary under this Plan. 
  
 12.2 Retirement/Investments Committee Discretion, Powers and Duties. The Retirement/Investments Committee shall have full discretionary
authority and responsibility for administering the Plan, including control over the management and disposition of Plan assets, and resolving all questions arising in the administration, interpretation and application of the Plan. The
Retirement/Investments Committee shall have such powers as may be necessary to discharge its duties hereunder, including, but not by way of limitation, the following powers and duties: 
  
 (a) to ensure that the Plan is operated in accordance with its terms, that the Plan is operated consistent
with ERISA and the Code, and that assets are only used to pay appropriate expenses; 
  
 (b) to approve and execute certain Plan amendments; 
  
 (c) to construe and interpret any and all provisions of the Plan, decide all questions of eligibility and
determine the amount, manner and time of payment of any amounts hereunder; 
  
 (d) to adopt an Investment Policy Statement; to select and replace the Funds available to Participants and Beneficiaries under the Plan; and to monitor the performance of the Funds from time to time; provided that the
Retirement/Investments Committee shall have no discretion to remove, replace or otherwise change the provisions of the Plan related to the Blockbuster Class A Stock Fund, the Blockbuster Class B Stock Fund, the Viacom Class A Stock Fund or
the Viacom Class B Stock Fund; 
  
 (e) to
prescribe rules for the operation of the Plan, including procedures to be followed to obtain benefits and to appeal any unfavorable Retirement/Investments Committee determinations, as described in Paragraph 12.3 hereof; 
  
 (f) to receive from the Employer and from Employees such
information as shall be necessary for the proper administration of the Plan; 
  

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 (g) to employ an independent qualified public accountant to examine the books, records,
and any financial statement and schedules which are required to be included in the annual report; 
  
 (h) to file with the appropriate government agency (or agencies) the annual report, plan description, summary plan description, and other
pertinent documents which may be duly requested; 
  
 (i) to file such terminal and supplementary reports as may be necessary in the event of the termination of the Plan; 
  
 (j) to furnish each Employee and each Beneficiary with an Account hereunder a summary plan description explaining the Plan; 
  
 (k) to furnish any Employee or Beneficiary, who requests in
writing, statements indicating such Employee’s or Beneficiary’s total Account balance and nonforfeitable amount, if any; 
  
 (l) to furnish to an Employee a statement containing information contained in a registration statement required by Section 6057(a)(2)
of the Code prior to the time prescribed by law to file such registration if such statement contains information regarding the Employee; 
  
 (m) to maintain all records necessary for verification of information required to be filed with the appropriate government agency (or
agencies); 
  
 (n) to report to the Trustee all
available information regarding the amount payable to each Participant, the computations with respect to the allocation of assets, and any other information which the Trustee may require; 
  
 (o) to delegate to one or more of the members of the Retirement/Investments Committee the right to act in
its behalf in all matters connected with the administration of the Plan and Trust; 
  
 (p) to delegate to any individual(s) such of the above powers and duties as the Retirement/Investments Committee deems appropriate;

  
 (q) to report to the Board from time to time
on the general state of the Plan; and 
  
 (r) to
appoint or employ for the Plan any agents it deems advisable, including, but not limited to, legal counsel. 
  
 A majority of the members of the Retirement/Investments Committee shall constitute a quorum for the transaction of business. No action shall be taken
except upon a majority vote of the Retirement/Investments Committee members. A member of the Retirement/Investments Committee shall not vote or decide upon any matter relating solely to such member or vote in any case in which the Participant’s
individual right or claim to any benefit under the Plan is 

  

 -41- 

 
particularly involved. If, in any case in which a Retirement/Investments Committee member is so disqualified to act, and the remaining members cannot agree,
the Retirement/Investments Committee may request that the Board appoint a temporary substitute member to exercise all the powers of the disqualified member concerning the matter in which such person is disqualified. 
  
 12.3 Claims Procedure. Benefits under this Plan will be paid only if
the Retirement/Investments Committee decides that the claimant is entitled to them. In all such cases, the Retirement/Investments Committee’s decision shall be final and binding upon all parties and shall be given the greatest possible
deference permitted by applicable law. 
  
 The
Retirement/Investments Committee may prescribe procedures for obtaining benefits and is required to provide a notice in writing to any person whose claim for benefits under this Plan has been denied, setting forth (1) the specific reasons for
such denial, (2) the specific reference to pertinent Plan provisions on which the denial is based, (3) a description of any additional material or information necessary to the claimant to perfect the claim and an explanation of why such
material or information is necessary, and (4) an explanation of the Plan’s claim review procedure as described below, including the name and address of the party to whom an appeal should be sent. 
  
 A claimant has the right to appeal a denial of a claim by written application
to the Retirement/Investments Committee within sixty (60) days of notice of denial or, if no such notice has been given, at the end of the expiration of a reasonable period of time after the claim was filed. The claimant, or a duly authorized
representative, may review pertinent documents and may submit issues and comments in writing to the Retirement/Investments Committee. 
  
 After the Retirement/Investments Committee reviews the claims appeal, a final decision shall be made and communicated to the claimant within sixty
(60) days of receipt of the appeal by the Retirement/Investments Committee, unless special circumstances require an extension. Such extension cannot extend beyond one hundred twenty (120) days after receipt of the appeal by the
Retirement/Investments Committee. The communication shall be set forth in writing in a manner calculated to be understood by the claimant and shall identify the reasons for the denial and shall reference any pertinent Plan provisions upon which the
denial is based. 
  
 12.4 Claims Review Relating to
Disability. If a claim for benefits is based on a determination of Disability by the Retirement/Investments Committee, such claim for disability-based benefits will be processed within 45 days of receipt unless the application is incomplete. The
Retirement/Investments Committee will notify the claimant or the claimant’s representative within the initial 45-day period if the application is incomplete. 
  
 If the Retirement/Investments Committee needs additional information, the initial 45-day period will be suspended. When the
information is received, the Retirement/Investments Committee has the remainder of the 45-day period to process the application. 
  
 In unusual circumstances, the Retirement/Investments Committee may extend the initial 45-day period to process the application by up to two 30-day
extensions. If it does so, the claimant will be notified in writing of the first extension before the end of the first 45-day period. The claimant will be notified of the second extension before the end of the first 30-day extension 

  

 -42- 

 
period. If the Retirement/Investments Committee is waiting for information from a claimant during a 30-day extension, the period during which it must wait is
not counted toward the 30 days. 
  
 If the initial application for
disability-based benefits is denied in whole or in part, the Retirement/Investments Committee will provide the claimant with a written explanation of the denial and the claimant’s right to have the denial appealed. The explanation also will
describe any other information or material that the claimant can provide that on appeal may result in a reversal of the denial. 
  
 The claimant may then submit a written request for reconsideration of the claim within 180 days after the denial. Any such request should be accompanied
by documents or records that support the appeal and should be sent to the Retirement/Investments Committee. 
  
 The Retirement/Investments Committee will consult with vocational and medical experts in deciding the appeal for technical advice and opinions on claim
appeals when appropriate. 
  
 The Retirement/Investments Committee
will make a final claim determination within 45 days of its receipt of the request for an appeal of the initial denial. If the Retirement/Investments Committee needs additional information to process the appeal, it will notify the claimant or the
claimant’s representative and request the information. While the Retirement/Investments Committee waits for the information, the 45-day period will be suspended. 
  
 When the information is received, the Retirement/Investments Committee has the remainder of the original 45-day period to
process the appeal. In special circumstances, the Retirement/Investments Committee may extend the original 45-day period. The claimant will be notified in writing of the extension before the end of the original 45-day period. The period for
processing the appeal may not exceed 90 days (not including the time the Retirement/Investments Committee waits for information it requests from the claimant). 
  

12.5 Retirement/Investments Committee Procedures. The Retirement/Investments Committee shall adopt such charter or bylaws as it deems desirable.
The Retirement/Investments Committee shall elect one of its members as chair person and shall elect a secretary who may, but need not, be a member of the Retirement/Investments Committee. The Retirement/Investments Committee shall advise the Trustee
of such elections in writing. The Secretary of the Retirement/Investments Committee shall keep a record of all meetings. 
  
 12.6 Authorization of Payments. The Retirement/Investments Committee shall issue directions to the Trustee concerning all amounts which are to be
paid from the Trust Fund pursuant to the provisions of the Plan. The Retirement/Investments Committee shall keep on file, in such manner, as it may deem convenient or proper, all reports from the Trustee. 
  
 12.7 Expenses. All expenses that shall arise in connection with the
administration of the BIP, including but not limited to the compensation of the Trustee, administrative expenses, other expenses associated with the purchase and sale of stock in the Blockbuster Class A Stock Fund, the Blockbuster Class B Stock
Fund, the Viacom Class A Stock Fund or Viacom Class B Stock Fund, or other proper charges and disbursements of the Trustee, and compensation and other expenses and charges of any enrolled actuary, accountant, counsel, specialist or other

  

 -43- 

 
person who shall be employed by the Retirement/Investments Committee in connection with the administration of the BIP will be paid from forfeitures pursuant
to Paragraph 10.3 and, to the extent expenses remain, they shall be paid by the Trustee from the Funds as directed by the Retirement/Investments Committee unless paid by the Company. Brokerage fees, transfer taxes and other expenses related to the
investment or reinvestment of BIP assets (including investment management fees) allocated to the Funds (other than the Blockbuster Class A Stock Fund, the Blockbuster Class B Stock Fund, the Viacom Class A Stock Fund or the Viacom Class B
Stock Fund) shall be paid out of the respective Funds. 
  
 12.8
Indemnity. The Company indemnifies and holds harmless any individual who serves as a member of the Retirement/Investments Committee, including past and present members, and any current or former Employee of the Employer from and against any
and all loss resulting from liability to which any such person may be subjected by reason of any conduct (except willful or reckless misconduct) in a fiduciary capacity under the Plan or Trust, or both, including all expenses reasonably incurred in
such person’s defense, in case the Employer fails to provide such defense. 
  
 12.9 Reliance on Reports and Certificates. The Retirement/Investments Committee will be entitled to rely conclusively upon all tables, valuations, certificates, opinions and reports furnished by any Trustee,
accountant, controller, counsel or other person who is employed or engaged for such purposes. 
  

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 ARTICLE XIII 
 AMENDMENT AND TERMINATION 
  
 13.1 Right to Amend or Terminate. 
  
 (a) Subject to any applicable provisions to the contrary in the Company’s governing documents, the Company reserves the right to modify, alter or amend this Plan or any Trust Agreement thereunder from time to time to any extent that it
may deem advisable, with Plan amendments subject to the limitations of Code Section 411(d)(6), ERISA Section 204(g), or other applicable limitations under the Code or ERISA. The Company reserves the right, by action of its Board or its
delegate, to terminate the BIP with respect to Participants herein. The Company reserves the right to execute any amendment deemed necessary or appropriate to terminate the Trust. No such amendment(s) shall increase the duties or responsibilities of
the Trustee without its consent thereto in writing. No such amendment(s) shall have any retroactive effect so as to deprive any Participant of any benefit already accrued (including the timing and form of any optional payment forms), except that any
amendment may be made retroactive that is necessary to bring the Plan into conformity with government regulations or policies in order to qualify or maintain qualification of the Plan under the appropriate section of the Code. No such amendment(s)
shall have the effect of revesting in the Employer the whole or any part of the principal or income for purposes other than for the exclusive benefit of the Participants or Beneficiaries at any time prior to the satisfaction of all the liabilities
under the Plan with respect to such persons. 
  
 (b) Any amendment of the Plan or Trust may be made by the adoption of a resolution by the Board or by such person or persons to whom such authority is delegated by the Board. 
  
 (c) Subject to the legal limitations in Paragraph 13.1(a), the Retirement/Investments Committee shall have
concurrent authority to amend the Plan, but only to the extent that any such amendment: (i) is administrative in nature and has no material positive or negative cost implications to the Plan; or (ii) may be required or advisable in order
to address a change in applicable law or ensure non-discriminatory administration of the Plan. The Retirement/Investments Committee shall have concurrent authority to amend the Trust Agreement. 
  
 (d) If any amendment changes the vesting provisions of
Article X, any Participant with at least three years of Vesting Service may elect, by filing a written request with the Retirement/Investments Committee within sixty days after the Participant has received notice of such amendment, to have the
Participant’s vested interest computed under the provisions of Article X as in effect immediately prior to such amendment. 
  
 13.2 Complete or Partial Termination. In the event of the complete or partial termination of the Plan, or the complete discontinuance of
contributions thereto, the account balances of all affected Participants shall become fully vested. The account balance of each 

  

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affected Participant shall continue to be held in Trust until a Participant is entitled to a distribution under the otherwise applicable terms of the Plan.

  
 13.3 Distribution of Funds Upon Termination of the BIP.
In the event of, and upon, an Employer’s termination of the BIP or permanent discontinuance of contributions other than by reason of being merged into, or consolidated with, another Employer, whether or not the Trust shall also terminate
concurrently therewith, the Trustee shall, as of and as promptly as shall be practicable after the Valuation Date next succeeding whichever shall occur first of (i) such Participant ceasing to be an Employee of an Employer or another Affiliated
Company and (ii) the earliest date allowed by the IRS for distribution following the termination of the BIP, pay or distribute to such Participant or Beneficiary in the manner provided in Article XI hereof the amount to which such person is
entitled. 
  

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 ARTICLE XIV 
 GENERAL PROVISIONS 
  
 14.1
Employment Relationships. Nothing contained herein will be deemed to give any Employee the right to be retained in the service of an Employer or to interfere with the rights of an Employer to discharge any Employee at any time. 
  
 14.2 Non-Alienation. 
  
 (a) Subject to Paragraph 14.3, and subject to and in
accordance with applicable law, no amount payable under the BIP will be subject in any manner to anticipation, assignment, attachment, garnishment, or pledge, and any attempt to anticipate, assign, attach, garnish or pledge the same will be void,
and no such amounts will be in any manner liable for or subject to the debts, liabilities, engagements, or torts of any Participant. 
  
 (b) A Participant’s Account under the Plan may be offset against an amount the Participant is ordered to pay to the Plan if
(a) the order or requirement to pay arises (i) under a judgment of conviction for a crime involving the Plan, or (ii) under a civil judgment (including a consent order or decree) entered by a court in an action brought in connection
with a violation (or alleged violation) of Part 4 of Subtitle B of Title I of ERISA, in connection with a violation (or alleged violation) of Part 4 of such subtitle by a fiduciary or any other person and (b) the judgment, order, decree, or
settlement agreement expressly provides for the offset of all or part of the amount ordered or required to be paid to the Plan against the Participant’s Account. 
  
 14.3 Qualified Domestic Relations Order. Notwithstanding any other provisions of the BIP, in the event that a
qualified domestic relations order (as defined in Section 414(p) of the Code and Section 206(d)(3) of ERISA) is received by the Retirement/Investments Committee, the amount specified in such order shall be payable in accordance with such
order and with Section 414(p) of the Code and Section 206(d)(3) of ERISA. The amount payable to the Participant and to any other person other than the payee entitled to any amounts under the order, shall be adjusted accordingly. Amounts
payable under a qualified domestic relations order may be paid prior to the “earliest retirement age” as such term is defined in the Code and ERISA. The Retirement/Investments Committee shall establish reasonable procedures for determining
the qualified status of any domestic relations order and for administering distributions under any such order. 
  
 14.4 Exclusive Benefit of Employees. No part of the corpus or income of the Fund will be used for, or diverted to, purposes other than the
exclusive benefit of Participants and their Beneficiaries. 
  
 14.5 Merger, Consolidation or Transfer of Assets or Liabilities. There will be no merger or consolidation with, or transfer of any assets or liabilities to any other plan, unless each Participant will be entitled to receive an amount
immediately after such merger, consolidation, or transfer as if the BIP were then terminated that is equal to the amount such person would have 

  

 -47- 

 
been entitled to immediately before such merger, consolidation, or transfer as if the BIP had been terminated. 
  
 14.6 Appointments of Trustee. The Trustee is appointed by the
Retirement/Investments Committee with such powers as to investment, reinvestment, control and disbursement of the Fund as are set forth in the Trust Agreement, as modified from time to time. The Retirement/Investments Committee may remove the
Trustee at any time on the notice required by the terms of such Trust Agreement, and, upon such removal or upon the resignation of any such Trustee, the Retirement/Investments Committee will designate a successor Trustee. 
  
 14.7 Voting Rights. 
  
 (a) Pass-Through Voting. All shares of Company Stock
held by the Trust shall be voted by the Trustee in accordance with instructions received from the Retirement/Investments Committee. Each Participant or Beneficiary shall be entitled to direct the Retirement/Investments Committee as to the manner in
which shares of Company Stock then allocated to their respective Accounts shall be voted. Except as may otherwise be required by ERISA, a Participant or Beneficiary who does not give instructions to the Retirement/Investments Committee shall be
treated as having instructed the Retirement/Investments Committee not to vote such shares, and the Retirement/Investments Committee shall direct the Trustee accordingly. 
  
 (b) Information to Participants. The Retirement/Investments Committee shall provide each Participant
or Beneficiary who is entitled to direct the Retirement/Investments Committee as to the manner in which shares of Company Stock will be voted with the proxy statement and other materials provided to the Company’s shareholders in connection with
each shareholder meeting, together with a form upon which the Participant or Beneficiary shall have the right to give confidential voting directions to the Retirement/Investments Committee. If proxies are solicited by a person other than the
Company, the Retirement/Investments Committee shall deliver to the Trustee a list of the names and addresses of the Participants or Beneficiaries showing the number of shares of Company Stock allocated to each Participant’s Account and shall
date and certify the accuracy of such information; and the Trustee shall provide each Participant or Beneficiary with the proxy statement and other materials prepared by such other person. Each Participant or Beneficiary shall be informed that if
such person fails to return the voting instruction form, the shares subject to such voting instruction form will not be voted. Each Participant or Beneficiary shall also be informed that such person’s voting directions will be confidential. The
Trustee shall have the right to require payment in advance by any person soliciting proxies of all reasonably anticipated expenses associated with the distribution of information to and the processing of instructions received from Participants or
Beneficiaries. 
  
 (c) No Recommendations.
Neither the Retirement/Investments Committee nor the Trustee shall express any opinion or give any advice or recommendation to any Participant or Beneficiary concerning the matters subject to vote, and the Retirement/Investments Committee and the
Trustee shall have no authority or responsibility to do so. 
  

 -48- 

 (d) Confidentiality. Neither the Retirement/Investments Committee nor the Trustee
shall reveal or release any individual Participant or Beneficiary voting instructions to the Company or its officers, directors, Employees or representatives. The Trustee shall, however, inform the Company, at its request, of the number of shares of
Company Stock for which voting instructions have been received at a given point in time and the manner in which such shares will be voted when the votes are cast by the Trustee. The Company shall honor the confidentiality of the Participant or
Beneficiary voting instructions. 
  
 (e)
Participant As Named Fiduciary. Each Participant or Beneficiary shall be a named fiduciary of the Plan for the purpose of providing directions as to the voting of shares of Company Stock pursuant to this paragraph. 
  
 14.8 Tender Rights. 
  
 (a) Tender Rights. In the event that there should be a
tender or exchange offer for Company Stock, the Trustee shall respond to such offer only in accordance with the provisions of this paragraph. Each Participant or Beneficiary shall be entitled to direct the Retirement/Investments Committee as to the
manner in which it should instruct the Trustee to respond to such offer with respect to shares of Company Stock then allocated to such person’s Account. Except as may otherwise be required by ERISA, a Participant or Beneficiary who does not
give directions to the Retirement/Investments Committee shall be treated as having directed the Retirement/Investments Committee to instruct the Trustee not to tender, and the Retirement/Investments Committee shall direct the Trustee accordingly.

  
 (b) Information to Participants. The
Retirement/Investments Committee shall provide each Participant or Beneficiary who is entitled to provide directions with the description of the terms and conditions of the offer and other materials provided to Company shareholders in connection
with the offer, together with a form upon which the Participant or Beneficiary shall have the right to provide confidential directions to the Retirement/Investments Committee as to the manner in which to instruct the Trustee to respond to such
offer. Each Participant or Beneficiary shall be informed that if such person fails to return the tender instruction form, the shares whose tender such person is entitled to direct will not be tendered. Each Participant or Beneficiary shall also be
informed that such person’s tender directions will be confidential. 
  
 (c) Expenses. The Retirement/Investments Committee and the Trustee shall have the right to require payment in advance by the person making the tender offer of all reasonably anticipated expenses associated with
the distribution of information to and the processing of instructions received from the Participants or Beneficiaries. 
  
 (d) No Recommendations. Neither the Retirement/Investments Committee nor the Trustee shall express any opinion or give any advice
or recommendation to any Participant or Beneficiary concerning the tender offer, and neither the Retirement/Investments Committee nor the Trustee shall have no authority or responsibility to do so. 
  

 -49- 

 (e) Confidentiality. Neither the Retirement/Investments Committee nor the Trustee
shall reveal or release any individual Participant or Beneficiary tender instructions to the Company or its officers, directors, Employees or representatives. The Trustee shall, however, inform the Company, at its request, of the number of shares of
Company Stock for which tender instructions have been received at a given point in time and whether such shares will be tendered by the Trustee. The Company shall honor the confidentiality of the Participant or Beneficiary tender directions.

  
 (f) Participant As Named Fiduciary.
Each Participant or Beneficiary shall be a named fiduciary of the Plan for the purpose of providing directions as to the manner of responding to a tender or exchange offer for shares of Company Stock pursuant to this Paragraph. 
  
 (g) Order of Tender. If fewer than all of the shares
of Company Stock allocated to the Participant’s Accounts are accepted in a tender or exchange offer, the shares submitted for tender shall be withdrawn from the Participant’s Accounts in the following order of priority: Rollover
Contributions, After-Tax Contributions, Salary Reduction Contributions, Company Matching Contributions, Blockbuster Employer Matching Contributions, Safe Harbor Matching Contributions, and Qualified Non-Elective Contributions. 
  
 14.9 Payments to Minors and Incompetents. If a Participant or
Beneficiary entitled to receive any amounts hereunder is a minor or is deemed by the Retirement/Investments Committee or is adjudged to be legally incapable of giving valid receipt and discharge for such amounts, they will be paid to such persons as
the Retirement/Investments Committee shall designate or to the duly appointed guardian. 
  
 14.10 Employee’s Records. Each of the Employers and the Retirement/Investments Committee shall respectively keep such records, and each of the Employers and the Retirement/Investments Committee shall each
reasonably give notice to the other of such information, as shall be proper, necessary or desirable to effectuate the purposes of the BIP and the Trust Agreement, including, without in any manner limiting the foregoing, records and information
with respect to the employment date, date of participation in the BIP and Compensation and Earnings of Employees, elections by Participants and their Beneficiaries and consents granted and determinations made under BIP and the Trust Agreement.
Neither any of the Employers nor the Retirement/Investments Committee shall be required to duplicate any records kept by the other. Each Participant shall cooperate with the Retirement/Investments Committee to administer the BIP in the manner herein
and in the Trust Agreement provided. 
  
 14.11 Titles and
Headings. The titles to sections and headings or paragraphs of the BIP are for convenience of reference and, in case of any conflict, the text of the BIP, rather than such titles and headings, shall control. 
  
 14.12 Notices. Electronic notice is permitted under this Plan to
disseminate employee benefit notices, elections and consents to the extent authorized by statutes, regulations or guidance promulgated by the IRS, Department of Labor or the Securities and Exchange Commission. 
  

 -50- 

 14.13 Use of Masculine and Feminine; Singular and Plural. Wherever used herein, the masculine
gender will include the feminine gender and the singular will include the plural, unless the context indicates otherwise. 
  
 14.14 Governing Law. To the extent that Texas law has not been preempted by the provisions of ERISA, the provisions of the BIP will be construed in
accordance with the laws of the State of Texas. 
  

 -51- 

 ARTICLE XV 
 ANNUAL ADDITION LIMITATIONS 
  
 15.1 Limitation on Annual Additions. 
  
 (a) Basic Limitations. Except to the extent that this Plan permits catch-up contributions under Code Section 414(v), and subject to other limitations imposed by law and this Plan, the annual addition that may be contributed or
allocated to a Participant’s Account under the Plan for any limitation year shall not exceed the lesser of: 
  
 (i) $40,000, as adjusted for increases in the cost-of-living under Section 415(d) of the Code, or 
  
 (ii) 100% of the Participant’s annual Earnings.

  
 (b) Definition of Employer. For
purposes of this Paragraph, the term “Employer” shall include any Affiliated Company, as defined in Paragraph 2.4 hereof and as modified by Section 415(h) of the Code. 
  
 (c) Excess Annual Additions Precluded. Prior to the allocation of contributions in any Plan Year, the
Committee shall determine whether the amount to be allocated would cause the limitations prescribed hereunder to be exceeded with respect to any Participant. In the event there would be such an excess, the Annual Additions to the BIP shall be
adjusted by reducing Participant and Employer contributions in such amounts as are determined by the Retirement/Investments Committee and in such order as is elected by the Participant with the consent of the Retirement/Investments Committee, but
only to the extent necessary to satisfy such limitations. 
  
 (d) Disposal of Excess Annual Additions. In the event that, notwithstanding Subparagraph (c), the limitations with respect to Annual Additions prescribed hereunder are exceeded with respect to any Participant
and such excess arises as a consequence of a reasonable error in estimating the Participant’s Earnings, the allocation of forfeitures, or a reasonable error in determining the amount of Salary Reduction Contributions that may be made with
respect to any individual under the limits of Section 415 of the Code, such excess amounts shall not be deemed Annual Additions in that limitation year to the extent corrected hereunder. First, Salary Reduction Contributions and After-Tax
Contributions (together with investment earnings thereon) shall be returned to each affected Participant to the extent that such distribution would reduce the excess amounts in the Participant’s Accounts. To the extent excess amounts remain
after any such distributions, such excess amounts shall be utilized to reduce Matching Employer Contributions on behalf of the Participant for the next succeeding Plan Year, and succeeding Plan Years, as necessary. If the Participant is not covered
by the BIP at the end of any such succeeding Plan Year, but an excess amount still exists, such excess amount will be held unallocated in a suspense account. The suspense account will be applied to reduce Matching Employer Contributions for
Participants in that Plan Year, and succeeding Plan Years, if necessary. The amount in such suspense account shall be credited to the Accounts of Participants in the manner provided in Paragraph 5.9. 
  

 -52- 

 ARTICLE XVI 
 TOP-HEAVY PLAN 
  
 16.1
General Rule. The BIP shall meet the requirements of this Article XVI in the event that the BIP is or becomes a Top-Heavy Plan. Notwithstanding the foregoing, the top-heavy requirements of Code Section 416 and this Article 16 shall not
apply in any year beginning after December 31, 2001, in which the Plan consists solely of a cash or deferred arrangement which meets the requirements of Code Section 401(k)(12) and matching contributions with respect to which the
requirements of Code Section 401(m)(11) are met. 
  
 16.2
Top-Heavy Plan. 
  
 (a) Test for
Top-Heaviness. Subject to the aggregation rules set forth in subparagraph (b), the BIP shall be considered a Top-Heavy Plan pursuant to Section 416(g) of the Code in any Plan Year if, as of the Determination Date, the value of the
cumulative Account Balances of all Key Employees exceeds sixty percent (60%) of the value of the cumulative Account Balances of all of the Employees as of such Determination Date. For this purpose, the present values of accrued benefits and the
amounts of account balances of an Employee as of the Determination Date shall be increased by the distributions made with respect to the Employee under the Plan and any plan aggregated with the plan under Code Section 416(g)(2) during the
1-year period ending on the Determination Date. The preceding sentence shall also apply to distributions under a terminated plan which, had it not been terminated, would have been aggregated with the Plan under Code Section 416(g)(2)(A)(i). In
the case of a distribution made for a reason other than separation from service, death, or disability, this provision shall be applied by substituting 5-year period for 1-year period. The accrued benefits and accounts of any individual who has not
performed services for the Employer during the 1-year period ending on the Determination Date shall not be taken into account 
  
 (b) Aggregation and Coordination With Other Plans. For purposes of determining whether the BIP is a Top-Heavy Plan and for purposes
of meeting the requirements of this Article XVI, the BIP shall be aggregated and coordinated with other qualified plans in a Required Aggregation Group and may be aggregated or coordinated with other qualified plans in a Permissive Aggregation
Group. If such Required Aggregation Group is Top-Heavy, the BIP shall be considered a Top-Heavy Plan. If such Permissive Aggregation Group is not Top-Heavy, the BIP shall not be a Top-Heavy Plan. 
  
 16.3 Definitions. For the purpose of determining whether the BIP is
Top-Heavy, the following definitions shall be applicable: 
  
 (a) Determination and Valuation Dates. The term “Determination Date” shall mean, in the case of any Plan Year, the last day of the preceding Plan Year. The value of an individual’s Account
Balance shall be determined as of the Valuation Date next preceding the Determination Date and shall include any contribution actually made after such Valuation Date but on or before the Determination Date. If the highest rate allocated to a Key
Employee for a Plan Year in which the Plan is Top-Heavy is less than 

  

 -53- 

 
three percent (3%), amounts contributed as a result of a Salary Reduction Contributions must be included in determining contributions made on behalf of such
Key Employees. 
  
 (b) Key Employee. The
term “Key Employee” means any Employee or former Employee (including any deceased Employee) who at any time during the Plan Year that includes the Determination Date was an officer of the Employer having annual compensation greater than
$130,000 (as adjusted under Code Section 416(i)(1) for Plan Years beginning after December 31, 2002), a 5-percent owner of the Employer, or a 1-percent owner of the Employer having annual compensation of more than $150,000. For this
purpose, annual compensation means compensation within the meaning of Code Section 415(c)(3). The determination of who is a Key Employee will be made in accordance with Code Section 416(i)(1) and the applicable regulations and other
guidance of general applicability issued thereunder. 
  
 (c) Non-Key Employee. The term “Non-Key Employee” shall mean any Employee who is a Participant and who is not a Key Employee. 
  
 (d) Beneficiary. Whenever the term “Key Employee”, “former Key Employee”, or “Non-Key Employee” is
used herein, it includes the Beneficiary or Beneficiaries of such individual. 
  
 (e) Required Aggregation Group. The term “Required Aggregation Group” shall mean all other qualified defined benefit and defined contribution plans maintained by the Employer in which a Key Employee
participates, and each other plan of the Employer that enables any plan in which a Key Employee participates to meet the requirements of Section 401(a)(4) or 410 of the Code. 
  
 (f) Permissive Aggregation Group. The term “Permissive Aggregation Group” shall mean all
other qualified defined benefit and defined contribution plans maintained by the Employer that meet the requirements of Sections 401(a)(4) and 410 of the Code when considered with a Required Aggregation Group. 
  
 16.4 Requirements Applicable if BIP is Top-Heavy. In the event the BIP
is determined to be Top-Heavy for any Plan Year, the following requirements shall be applicable: 
  
 (a) Minimum Allocation. 
  
 (i) In the case of a Non-Key Employee who is covered under the BIP but does not participate in any qualified defined benefit plan
maintained by the Employer, the Minimum Allocation of contributions plus forfeitures allocated to the account of each such Non-Key Employee who has not separated from service at the end of a Plan Year in which the BIP is Top-Heavy shall equal the
lesser of three percent (3%) of Compensation for such Plan Year or the largest percentage of Compensation provided on behalf of any Key Employee for such Plan Year. The Minimum Allocation provided hereunder may not be suspended or forfeited
under Section 411(a)(3)(B) or 411(a)(3)(D) of the Code. The Minimum Allocation shall be made for a Non-Key Employee for each Plan Year in which the BIP is Top-Heavy, even if the Non-Key Employee has not completed a Year 

  

 -54- 

 
of Service in such Plan Year or if the Non-Key Employee has declined to elect to have Salary Reduction Contributions made on the Participant’s behalf.

  
 An Employee shall receive such a minimum
allocation for each Plan Year in which the Plan is Top-Heavy, regardless of the Employee’s level of compensation, even if the Employee has not completed a Year of Service in such Plan Year and even if the Employee has not separated from service
at the end of such Plan Year. Matching Employer Contributions allocated to Key Employees shall be treated as Employer contributions for purposes of determining the minimum allocation. 
  
 Matching Employer Contributions shall be taken into account for purposes of satisfying the minimum
contribution requirements of Code Section 416(c)(2) and the Plan. The preceding sentence shall apply with respect to Matching Employer Contributions under the Plan or, if the Plan provides that the minimum contribution requirement shall be met
in another plan, such other plan. Matching Employer Contributions that are used to satisfy the minimum contribution requirements shall be treated as matching contributions for purposes of the actual contribution percentage test and other
requirements of Code Section 401(m). 
  
 (ii)
A Non-Key Employee who is covered under the BIP and under a qualified defined benefit plan maintained by the Employer shall not be entitled to the Minimum Allocation under the BIP but shall receive the minimum benefit provided under the terms of the
qualified defined benefit plan. 
  
 (b)
Top-Heavy Vesting Schedule. 
  
 (i) A
Non-Key Employee is at all times one hundred percent (100%) vested in the full value of such person’s Account attributable to Salary Reduction Contributions, After-Tax Contributions, and Rollover Contributions. 
  
 (ii) Fewer than Two Years of Vesting Service. A
Non-Key Employee whose employment is terminated prior to age sixty-five (65) and prior to the completion of two (2) or more full Years of Vesting Service shall not be entitled to any Matching Employer Contributions under the BIP.

  
 (iii) Two or More Years of Vesting
Service. A Non-Key Employee whose employment is terminated after age sixty-five (65) or after the completion of two (2) or more full Years of Vesting Service shall be one hundred percent (100%) vested in the full value of such
person’s Account attributable to Matching Employer Contributions under the BIP. 
  
 Notwithstanding the foregoing provisions of this Paragraph 16.4(b), at any time the BIP is a Top-Heavy plan, in no event will a Participant’s vested percentage interest in the portion of the Participant’s
Account attributable to Matching Employer Contributions be less than the Participant’s vested percentage interest determined under Paragraph 10.2. 
  

 -55- 

 (c) Limitations on Annual Additions and Benefits. For purposes of computing the
defined benefit plan fraction and defined contribution plan fraction as set forth in Sections 415(e)(2)(B) and 415(e)(3)(B) of the Code for Plan Years beginning before January 1, 2000, the dollar limitations on benefits and annual additions
applicable to a limitation year shall be multiplied by 1.0. 
  

 -56- 

 IN WITNESS WHEREOF, this Plan has been executed this 11th day of October, 2005. 
  

			
	BLOCKBUSTER INC.
		
	 By:
	 	/s/ Dan Satterthwaite
	 Name:
	 	Dan Satterthwaite
	 Title:
	 	SVP HR & Administration
	 	 	 

  

 -57- 

 APPENDIX A 
 INVESTMENT FUNDS 
 AS OF JANUARY 1, 2006 
  
 Putnam Stable Value Fund 
  
 Putnam Income Fund 
  
 PIMCO Total Return Fund 
  
 Vanguard LifeStrategy Moderate Growth Fund 
  
 The George Putnam Fund of Boston 
  
 Vanguard Total Stock Market Index Fund 
  
 Putnam S&P 500 Index Fund 
  
 Vanguard Growth and Income Fund 
  
 The Putnam Equity Income Fund 
  
 Vanguard WindsorTM II Fund 
  
 Putnam Investors Fund 
  
 Vanguard Morgan Growth Fund 
  
 Putnam Voyager Fund 
  
 Dimensional Fund Advisors U.S. Small Cap Fund 
  

EuroPacific Growth Fund 
  
 Viacom Class A Stock Fund (frozen to new contributions and transfers) 
  
 Viacom Class B Stock Fund 
  
 Blockbuster Class A Stock Fund 
  
 Blockbuster Class B Stock Fund 
  

 -58-Third Amendment and Restatement to Credit Agreement

 Exhibit 10.7 
  
 THIRD AMENDMENT AND RESTATEMENT dated as of November 4, 2005 (this “Amendment”), to
the CREDIT AGREEMENT dated as of August 20, 2004, as amended by the First Amendment dated as of May 4, 2005 and the Second Amendment and Waiver dated as of August 8, 2005 (as further amended, supplemented or otherwise modified from
time to time, the “Credit Agreement”), among BLOCKBUSTER INC. (the “Borrower”), the lenders from time to time party thereto (the “Lenders”), and JPMORGAN CHASE BANK, N.A., as Administrative and
Collateral Agent for such Lenders (in such capacities, the “Administrative Agent”). 
  
 WHEREAS the Borrower and the Required Lenders have agreed, on the terms and subject to the conditions set forth herein, to amend the Credit Agreement,
amend a provision of the Second Amendment and provide a consent under the Credit Agreement, all as set forth herein. 
  
 NOW, THEREFORE, in consideration of the above premises and other good and valuable consideration, the receipt and sufficiency of which are hereby
acknowledged, the parties hereto hereby agree as follows: 
  
 SECTION 1. Defined Terms. Capitalized terms used but not defined herein shall have the meanings assigned to such terms in the Credit Agreement. 
  

SECTION 2. Amendment and Restatement of Credit Agreement. Effective as of the Third Amendment Effective Date (as defined below), the Credit
Agreement is hereby amended by restating the Credit Agreement in the form of the Amended and Restated Credit Agreement attached as Exhibit A hereto (it being understood that all schedules and exhibits to the Credit Agreement, in the
forms thereof immediately prior to the Third Amendment Effective Date, shall continue to constitute schedules and exhibits to the Credit Agreement (as amended hereby), in the forms thereof immediately prior to the Third Amendment Effective Date).

  
 SECTION 3. Amendment to the Second Amendment; Consent under
the Credit Agreement. Effective as of the first date that both the conditions set forth in Sections 5(a) and 5(f) are satisfied and the Initial Amendment Fee (as defined below) has been paid in accordance with Section 6,
(a) Section 3(c)(v)(y) of the Second Amendment is amended by replacing the reference to “November 15, 2005” with a reference to “January 31, 2006” and (b) the Lenders consent to the sale or transfer of
the Equity Interests in that certain Person specified in the letter from the Borrower addressed to the Administrative Agent dated as of the date hereof (it being understood that such sale or transfer will be deemed made pursuant to
Section 6.05(d)). 

 SECTION 4. Representations and Warranties. The Borrower hereby represents and warrants to the
Administrative Agent and the Lenders that as of the date hereof and after giving effect hereto: 
  
 (a) this Amendment has been duly authorized, executed and delivered by it, and each of this Amendment and the Credit Agreement (as amended
hereby) constitutes its legal, valid and binding obligation, enforceable against it in accordance with its terms; 
  
 (b) no Default or Event of Default has occurred and is continuing; and 
  
 (c) all representations and warranties of the Borrower contained in the Credit Agreement (as amended hereby)
are true and correct in all material respects as of the date hereof (except with respect to representations and warranties expressly made only as of an earlier date, which representations were true and correct in all material respects as of such
earlier date). 
  
 SECTION 5. Effectiveness. Except with
respect to Section 3, this Amendment shall become effective as of the first date on or before November 20, 2005 (the “Third Amendment Effective Date”) on which: 
  
 (a) the Administrative Agent shall have received
counterparts hereof duly executed and delivered by the Borrower and the Required Lenders. 
  
 (b) the Administrative Agent shall have received evidence reasonably satisfactory to it that, on or prior to November 20, 2005, the
Borrower consummated either (i) the issuance and sale of shares of the Borrower’s common stock or convertible preferred stock or (ii) other equity arrangements satisfactory to the Required Lenders, in either case for gross cash
proceeds to the Borrower of at least $100,000,000 and on terms reasonably satisfactory to the Administrative Agent. 
  
 (c) the Administrative Agent shall have received such favorable written opinions (addressed to the Administrative Agent and the Lenders
and dated the Third Amendment Effective Date) of Vinson & Elkins L.L.P., counsel for the Borrower, and of Edward B. Stead, General Counsel of the Borrower, as it shall reasonably request relating to this Amendment, the Loan Parties and the
transactions contemplated hereby, all in form and substance reasonably satisfactory to the Administrative Agent. The Borrower hereby requests such counsel to deliver such opinions. 
  
 (d) the Administrative Agent shall have received such documents and certificates as the Administrative Agent
or its counsel may reasonably request relating to the organization, existence and good standing of the Borrower, the authorization of this Amendment and the transactions contemplated hereby and any other legal matters relating to the Loan Parties,
the Loan Documents or the transactions contemplated hereby, all in form and substance reasonably satisfactory to the Administrative Agent; 

 (e) (i) the Collateral and Guarantee Requirement (as such term is amended hereby)
shall have been satisfied (other than with respect to the Account Control Agreements in respect of the Deposit and Securities Accounts), (ii) the Administrative Agent shall have received a completed Perfection Certificate dated the Third
Amendment Effective Date and signed by an executive officer or Financial Officer of the Borrower, together with all attachments contemplated thereby and (iii) the Collateral Agent, for the ratable benefit of the Lenders, shall have a fully
perfected first priority Lien on, and security interest in, all Collateral (other than Collateral consisting of Deposit and Securities Accounts) subject only to Permitted Encumbrances; 
  
 (f) the Administrative Agent shall have received payment of all reasonable fees and out-of-pocket expenses,
to the extent invoiced, to be paid or reimbursed to it by the Borrower pursuant to the Credit Agreement, including those referred to in Section 8 hereof; and 
  
 (g) the Borrower shall have paid to the Administrative Agent in immediately available funds, for the account
of each of the Lenders entitled thereto, the Amendment Fee referred to in Section 6 hereof. 
  
 SECTION 6. Amendment Fee. The Borrower agrees to pay to the Administrative Agent, in immediately available funds and for the account of each Lender
that delivers (including by facsimile transmission) an executed counterpart of this Amendment to the Administrative Agent or its counsel prior to 5:00 p.m., New York City time, on November 4, 2005, (a) not later than November 7, 2005
and subject to the receipt of executed counterparts of this Amendment from the Required Lenders, an amendment fee (the “Initial Amendment Fee”) in an amount equal to 0.125% of the sum of such Lender’s outstanding Term Loans and
Revolving Commitments as of November 4, 2005 and (b) not later than the Third Amendment Effective Date and subject to the effectiveness of this Amendment pursuant to Section 5, an amendment fee (the “Supplemental Amendment
Fee” and, together with the Initial Amendment Fee, the “Amendment Fee”) in an additional amount equal to 0.125% of the sum of such Lender’s outstanding Term Loans and Revolving Commitments as of November 4, 2005.

  
 SECTION 7. No Other Amendments; Confirmation; Effect on
Second Amendment. Except as expressly set forth herein, this Amendment shall not by implication or otherwise limit, impair, constitute a waiver of, or otherwise affect the rights and remedies of the Lenders or the Administrative Agent under the
Credit Agreement or any other Loan Document, and shall not alter, modify, amend or in any way affect any of the terms, conditions, obligations, covenants or agreements contained in the Credit Agreement or any other Loan Document, all of which are
ratified and affirmed in all respects and shall continue in full force and effect. Nothing herein shall be deemed to entitle any Loan Party to any further consent to, or a waiver, amendment, 

 modification or other change of, any of the terms, conditions, obligations, covenants or agreements contained in the
Credit Agreement or any other Loan Document in similar or different circumstances. The definition of the term “Applicable Margin” in Section 1.01 of the Credit Agreement (as amended hereby) shall apply and be effective for the period
beginning on and including the Third Amendment Effective Date, and the definition of the term “Applicable Margin” in Section 1.01 of the Credit Agreement (exclusive of any amendment hereby) shall apply and be effective for the period
ending on (but not including) the Third Amendment Effective Date. On and after the Third Amendment Effective Date, any reference to the Credit Agreement contained in the Loan Documents shall mean the Credit Agreement as amended hereby. This
Amendment shall constitute a “Loan Document” for all purposes under the Credit Agreement and the other Loan Documents. On the Third Amendment Effective Date, the provisions set forth in Section 3 of the Second Amendment shall cease to
be effective with respect to all periods on and after the Third Amendment Effective Date. 
  
 SECTION 8. Expenses. The Borrower agrees to reimburse the Administrative Agent for its reasonable out-of-pocket expenses in connection with this Amendment, including the reasonable fees, charges and
disbursements of counsel for the Administrative Agent. 
  
 SECTION
9. Governing Law; Counterparts. (a) This Amendment and the rights and obligations of the parties hereto shall be governed by, and construed and interpreted in accordance with, the laws of the State of New York. 
  
 (b) This Amendment may be executed by one or more of the parties to this
Amendment on any number of separate counterparts, and all of such counterparts taken together shall be deemed to constitute one and the same instrument. This Amendment may be delivered by facsimile transmission of the relevant executed signature
pages hereof. 
  
 SECTION 10. Headings. The headings of
this Amendment are for purposes of reference only and shall not limit or otherwise affect the meaning hereof. 

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

			
	BLOCKBUSTER INC.,
		
	by	 	 /s/ Mary Bell

	Name:	 	Mary Bell
	Title:	 	 Senior Vice President, Investor
 Relations and
Corporate Treasurer

	
	 JPMORGAN CHASE BANK, N.A.,
 individually and
as Administrative Agent,

		
	By	 	 /s/ Marina S. Flindell

	Name:	 	Marina S. Flindell
	Title:	 	Vice President

 Signature page to 
 the Third Amendment and Restatement 
 to the Blockbuster Inc. Credit Agreement 
 dated as of August 20, 2004 
  
 To approve the Third Amendment and Restatement: 
  

			
	Name of Institution,
	  
 *

		
	by	 	  

	Name:	 	 
	Title:	 	 
	
	 *  The Amendment was approved by the Required Lenders for the Credit Agreement.

  
  

 EXHIBIT A 
  
 Amended and Restated Credit Agreement 

  
 CREDIT AGREEMENT 
  
 dated as of

  
 August 20, 2004, 
  
 as Amended and Restated as of November 5, 2005 
 and effective as of the Third Amendment Effective Date, 
  
 among 
  
 BLOCKBUSTER INC. 
  
 The Lenders Party Hereto, 
  
 JPMORGAN CHASE BANK, N.A.,

 as Administrative Agent and Collateral Agent 
  
 CITICORP NORTH AMERICA, INC., 
 as Syndication
Agent 
  
 CREDIT SUISSE FIRST BOSTON, 
 as Documentation Agent 
  
 and 
  
 THE
BANK OF NEW YORK and 
 WACHOVIA BANK, NATIONAL ASSOCIATION, 
 as Co-Documentation Agents 
  

  
 J.P. MORGAN SECURITIES INC. 
 and CITIGROUP GLOBAL MARKETS INC., 
 as Joint Lead Arrangers and Joint Bookrunners 
  

 TABLE OF CONTENTS 
  

					
	 	  	 	  	Page

	ARTICLE I
	
	Definitions
			
	SECTION 1.01.	  	Defined Terms	  	1
			
	SECTION 1.02.	  	Classification of Loans and Borrowings	  	35
			
	SECTION 1.03.	  	Terms Generally	  	35
			
	SECTION 1.04.	  	Accounting Terms; GAAP	  	35
	
	ARTICLE II
	
	The Credits
			
	SECTION 2.01.	  	Commitments	  	36
			
	SECTION 2.02.	  	Loans and Borrowings	  	36
			
	SECTION 2.03.	  	Requests for Borrowings	  	37
			
	SECTION 2.04.	  	Competitive Bid Procedure	  	38
			
	SECTION 2.05.	  	Swingline Loans	  	40
			
	SECTION 2.06.	  	Letters of Credit	  	42
			
	SECTION 2.07.	  	Funding of Borrowings	  	47
			
	SECTION 2.08.	  	Interest Elections	  	48
			
	SECTION 2.09.	  	Termination and Reduction of Commitments; Reduction of Viacom Reserve Amount	  	49
			
	SECTION 2.10.	  	Repayment of Loans; Evidence of Debt	  	51
			
	SECTION 2.11.	  	Amortization of Term Loans	  	53

					
	SECTION 2.12.	  	Prepayment of Loans	  	54
			
	SECTION 2.13.	  	Fees	  	56
			
	SECTION 2.14.	  	Interest	  	57
			
	SECTION 2.15.	  	Alternate Rate of Interest	  	58
			
	SECTION 2.16.	  	Increased Costs	  	59
			
	SECTION 2.17.	  	Break Funding Payments	  	60
			
	SECTION 2.18.	  	Taxes	  	61
			
	SECTION 2.19.	  	Payments Generally; Pro Rata Treatment; Sharing of Set-offs	  	62
			
	SECTION 2.20.	  	Mitigation Obligations; Replacement of Lenders	  	64
	
	ARTICLE III
	
	Representations and Warranties
			
	SECTION 3.01.	  	Organization; Powers	  	65
			
	SECTION 3.02.	  	Authorization; Enforceability	  	65
			
	SECTION 3.03.	  	Governmental Approvals; No Conflicts	  	66
			
	SECTION 3.04.	  	Financial Condition; No Material Adverse Change	  	66
			
	SECTION 3.05.	  	Properties	  	67
			
	SECTION 3.06.	  	Litigation and Environmental Matters	  	67
			
	SECTION 3.07.	  	Compliance with Laws and Agreements	  	67
			
	SECTION 3.08.	  	Investment and Holding Company Status	  	67
			
	SECTION 3.09.	  	Taxes	  	68

					
	SECTION 3.10.	  	ERISA	  	68
			
	SECTION 3.11.	  	Disclosure	  	68
			
	SECTION 3.12.	  	Subsidiaries	  	68
			
	SECTION 3.13.	  	Insurance	  	69
			
	SECTION 3.14.	  	Labor Matters	  	69
			
	SECTION 3.15.	  	Solvency	  	69
			
	SECTION 3.16.	  	Senior Indebtedness	  	69
			
	SECTION 3.17.	  	Franchises	  	69
			
	SECTION 3.18.	  	Security Interests	  	69
			
	SECTION 3.19.	  	Use of Proceeds	  	71
			
	SECTION 3.20.	  	Federal Reserve Regulation	  	71
	
	ARTICLE IV
	
	Conditions
			
	SECTION 4.01.	  	Effective Date	  	72
			
	SECTION 4.02.	  	Each Credit Event	  	73
	
	ARTICLE V
	
	Affirmative Covenants
			
	SECTION 5.01.	  	Financial Statements and Other Information	  	74
			
	SECTION 5.02.	  	Notices of Material Events	  	78
			
	SECTION 5.03.	  	Information Regarding Collateral	  	78
			
	SECTION 5.04.	  	Existence; Conduct of Business	  	79

					
	SECTION 5.05.	  	Payment of Obligations	  	79
			
	SECTION 5.06.	  	Maintenance of Properties	  	79
			
	SECTION 5.07.	  	Insurance	  	79
			
	SECTION 5.08.	  	Books and Records; Inspection and Audit Rights	  	79
			
	SECTION 5.09.	  	Compliance with Laws	  	80
			
	SECTION 5.10.	  	Use of Proceeds and Letters of Credit	  	80
			
	SECTION 5.11.	  	Additional Subsidiaries	  	80
			
	SECTION 5.12.	  	Further Assurances	  	80
			
	SECTION 5.13.	  	Cash Management System	  	81
			
	SECTION 5.14.	  	Use of Proceeds of Certain Equity Interests	  	82
			
	SECTION 5.15.	  	Perfection of Deposit and Securities Accounts	  	82
	
	ARTICLE VI
	
	Negative Covenants
			
	SECTION 6.01.	  	Indebtedness; Certain Equity Securities	  	82
			
	SECTION 6.02.	  	Liens	  	84
			
	SECTION 6.03.	  	Fundamental Changes	  	85
			
	SECTION 6.04.	  	Investments, Loans, Advances, Guarantees and Acquisitions	  	86
			
	SECTION 6.05.	  	Asset Sales	  	87
			
	SECTION 6.06.	  	Sale and Leaseback Transactions	  	88
			
	SECTION 6.07.	  	Hedging Agreements	  	88

					
	SECTION 6.08.	  	Restricted Payments; Certain Payments of Indebtedness	  	88
			
	SECTION 6.09.	  	Transactions with Affiliates	  	89
			
	SECTION 6.10.	  	Restrictive Agreements	  	89
			
	SECTION 6.11.	  	Amendment of Material Documents	  	90
			
	SECTION 6.12.	  	Fixed Charge Coverage Ratio	  	90
			
	SECTION 6.13.	  	Leverage Ratio	  	90
			
	SECTION 6.14.	  	Capital Expenditures	  	91
			
	SECTION 6.15.	  	Consolidated EBITDA	  	91
			
	SECTION 6.16.	  	Deposit and Securities Accounts	  	91
	
	ARTICLE VII
	
	Events of Default
	
	ARTICLE VIII
	
	The Administrative Agent
	
	ARTICLE IX
	
	Miscellaneous
			
	SECTION 9.01.	  	Notices	  	97
			
	SECTION 9.02.	  	Waivers; Amendments	  	97
			
	SECTION 9.03.	  	Expenses; Indemnity; Damage Waiver	  	99
			
	SECTION 9.04.	  	Successors and Assigns	  	100
			
	SECTION 9.05.	  	Survival	  	104
			
	SECTION 9.06.	  	Counterparts; Integration; Effectiveness	  	104

					
	SECTION 9.07.	  	Severability	  	104
			
	SECTION 9.08.	  	Right of Setoff	  	105
			
	SECTION 9.09.	  	Governing Law; Jurisdiction; Consent to Service of Process	  	105
			
	SECTION 9.10.	  	WAIVER OF JURY TRIAL	  	106
			
	SECTION 9.11.	  	Headings	  	106
			
	SECTION 9.12.	  	Confidentiality	  	106
			
	SECTION 9.13.	  	Interest Rate Limitation	  	106
			
	SECTION 9.14.	  	Patriot Act	  	107

  
 SCHEDULES: 
  
 Schedule 2.01
— Commitments 
 Schedule 2.06 — Existing Letters of Credit 
 Schedule 3.12 — Subsidiaries 
 Schedule 3.13 — Insurance 
 Schedule 6.01 — Existing Indebtedness 
 Schedule 6.02 — Existing Liens 
 Schedule 6.10 — Existing Restrictive Agreements 
  
 EXHIBITS: 
  

			
	Exhibit A	 	— Form of Assignment and Acceptance
	Exhibit B-1	 	 — Form of Opinion of Vinson & Elkins L.L.P.

	Exhibit B-2	 	 — Form of Opinion of Edward B. Stead

	Exhibit C	 	 — Form of Viacom L/C

	Exhibit D	 	 — Form of Collateral Agreement

	Exhibit E	 	 — Form of Borrowing Request

	Exhibit F	 	 — Form of Competitive Bid Request

	Exhibit G	 	 — Form of Competitive Bid

	Exhibit H	 	 — Form of Interest Election Request

	Exhibit I	 	 — Form of Certificate of Effectiveness

	Exhibit J	 	 — Form of Affiliate Subordination Agreement

 CREDIT AGREEMENT dated as of August 20, 2004, as amended and restated as of
November 5, 2005, among BLOCKBUSTER INC., the LENDERS party hereto, JPMORGAN CHASE BANK, N.A., as Administrative Agent and Collateral Agent, CITICORP NORTH AMERICA, INC., as Syndication Agent, and CREDIT SUISSE FIRST BOSTON, acting through its
Cayman Islands branch, as Documentation Agent. 
  
 The parties
hereto agree as follows: 
  
 ARTICLE I 
  
 Definitions 
  
 SECTION 1.01. Defined Terms. As used in this Agreement, the following
terms have the meanings specified below: 
  
 “ABR”, when used in reference to any Loan or Borrowing, refers to whether such Loan, or the Loans comprising such Borrowing, are bearing interest at a rate determined by reference to the Alternate Base Rate. 
  
 “Account Control Agreement” means an account control
agreement, in form and substance reasonably satisfactory to the Administrative Agent and the Borrower, duly executed and delivered by (a) the applicable Loan Party and (b) the relevant depositary bank or securities intermediary.

  
 “Additional Margin” means, for any day
with respect to any Loan, the applicable rate per annum set forth below based upon the Gross Leverage Ratio as of the most recent determination date. 

				
	 Gross Leverage Ratio:

	  	Additional
Margin

	 
		
	 Category 1 
 Greater than or equal to 4.00 to 1.00
	  	0.50	%
		
	 Category 2 
 Greater than or equal to 3.00 to 1.00
 but less than 4.00 to 1.00
	  	0.25	%
		
	 Category 3 
  

Less than 3.00 to 1.00
	  	0.00	%

  
 For purposes of the
foregoing, (i) the Gross Leverage Ratio shall be determined as of the end of each fiscal quarter of the Borrower’s fiscal year based upon the Borrower’s consolidated financial statements delivered pursuant to Section 5.01(a) or
(b) and (ii) each change in the Additional Margin resulting from a change in the Gross Leverage Ratio shall be effective during the period commencing on and including the date of delivery to the Administrative Agent of such consolidated
financial statements accompanied by the compliance certificate required by Section 5.01(c) indicating such change and ending on the date immediately preceding the effective date of the next such change; provided that the Gross Leverage
Ratio shall be deemed to be in Category 1 (A) from (and including) the Third Amendment Effective Date until a change in the Additional Margin pursuant to this paragraph and (B) at the option of the Administrative Agent or at the
request of the Required Lenders if the Borrower fails to deliver the consolidated financial statements required to be delivered by it pursuant to Section 5.01(a) or (b), during the period from the expiration of the time for delivery thereof
until such consolidated financial statements are delivered. 
  

 2 

 “Adjusted Consolidated Net Income” means, for any period, Consolidated Net Income for
such period calculated without regard to, and without deduction for, (i) any provisions required by SFAS 142 or SFAS 143 or any successor pronouncements thereto, (ii) any non-cash compensation charge or other non-cash expenses or charges
arising from the grant of or issuance or repricing of stock, stock options or other equity based awards or any amendment, modification, substitution or change of any such stock, stock options or other equity based awards, in each case in connection
with employee plans or other compensation arrangements, and (iii) any nonrecurring expenses incurred in connection with the Split-Off (and eliminating any tax costs or benefits associated with any such disregarded deductions referred to in
clauses (i), (ii) and (iii)), determined (except as specified above) on a consolidated basis for the Borrower and the Subsidiaries in accordance with GAAP. 
  
 “Adjusted LIBO Rate” means, with respect to any Eurodollar Borrowing for any Interest Period, an interest
rate per annum (rounded upwards, if necessary, to the next 1/100 of 1%) equal to (a) the LIBO Rate for such Interest Period multiplied by (b) the Statutory Reserve Rate. 
  
 “Administrative Agent” means JPMorgan Chase Bank, N.A., in its capacity as administrative agent for the
Lenders hereunder and in its capacity as Collateral Agent. 
  
 “Administrative Questionnaire” means an Administrative Questionnaire in a form supplied by the Administrative Agent. 
  
 “Affiliate” means, with respect to a specified Person, another Person that directly, or indirectly through one or more intermediaries,
Controls or is Controlled by or is under common Control with the Person specified. 
  
 “Agreement” means this Credit Agreement, as modified, amended or restated from time to time. 
  
 “Aircraft” means the Canadair Challenger Model CL600-2B16 aircraft, bearing Serial Number 5082 and Federal Aviation Administration
registration number N 6BB. 
  
 “Aircraft Security
Agreement” means an Aircraft Security Agreement between the Borrower and the Collateral Agent reasonably acceptable to the Collateral Agent and the Borrower. 
  
 “Alternate Base Rate” means, for any day, a rate per annum equal to the greater of (a) the Prime Rate
in effect on such day and (b) the Federal Funds Effective Rate in effect on such day plus 1/2 of 1%. Any change in the Alternate Base Rate due to a change in the Prime Rate or the Federal Funds Effective Rate shall be effective from and
including the effective date of such change in the Prime Rate or the Federal Funds Effective Rate, as the case may be. 
  

 3 

 “Applicable Margin” means, for any day with respect to any ABR Loan or Eurodollar Loan
that is a Revolving Loan, a Tranche A Term Loan or a Tranche B Term Loan, the applicable rate per annum set forth below under the caption “Tranche A and Revolving ABR Spread”, “Tranche A and Revolving Eurodollar
Spread”, “Tranche B ABR Spread” or “Tranche B Eurodollar Spread”, as the case may be, based upon the rating by S&P and Moody’s, respectively, applicable on such date to the Index Debt plus, solely
in the case of Category 3, the Additional Margin in effect on such day: 
  

													
	 Index Debt Ratings

	  	Tranche A
and
Revolving
ABR Spread

	 	 	Tranche A and
Revolving
Eurodollar
Spread

	 	 	Tranche B ABR
Spread

	 	 	Tranche B
Eurodollar
Spread

	 
	 Category 1
  
 B+ or B1 or higher
	  	1.75	%	 	2.75	%	 	2.00	%	 	3.00	%
					
	 Category 2
  
 B or B2
	  	2.00	%	 	3.00	%	 	2.25	%	 	3.25	%
					
	 Category 3
  
 lower than B or B2
	  	2.25	%	 	3.25	%	 	2.50	%	 	3.50	%

  
 For purposes of the
foregoing, (i) if either Moody’s or S&P shall not have in effect a rating for the Index Debt (other than by reason of the circumstances referred to in the last sentence of this paragraph), then such rating agency shall be deemed to
have established a rating in Category 3; (ii) if the ratings established or deemed to have been established by Moody’s and S&P for the Index Debt shall fall within different Categories, the Applicable Margin shall be based on the
lower of the two ratings; and (iii) if the ratings established or deemed to have been established by Moody’s and S&P for the Index Debt shall be changed, such change shall be effective as of the date on which it is first announced by
the applicable rating agency. Each change in the Applicable Margin shall apply during the period commencing on the effective date of such change and ending on the date immediately preceding the effective date of the next such change. If the rating
system of Moody’s or S&P shall change, or if either such rating agency shall cease to be in the business of rating corporate debt obligations, the Borrower and the Lenders shall negotiate in good faith to amend this definition to reflect
such changed rating system or the unavailability of ratings from such rating agency and, pending the effectiveness of any such amendment, the Applicable Margin shall be determined by reference to the rating most recently in effect prior to such
change or cessation. 
  

 4 

 “Applicable Percentage” means, with respect to any Revolving Lender, the percentage of
the total Revolving Commitments represented by such Lender’s Revolving Commitment. If the Revolving Commitments have terminated or expired, the Applicable Percentages shall be determined based upon the Revolving Commitments most recently in
effect, after giving effect to any assignments. 
  
 “Approved Fund” has the meaning assigned to such term in Section 9.04. 
  
 “Assignment and Acceptance” means an assignment and acceptance entered into by a Lender and an assignee (with the consent of any party
whose consent is required by Section 9.04(b)), and accepted by the Administrative Agent, in the form of Exhibit A or any other form approved by the Administrative Agent. 
  
 “Attributable Debt” means, on any date, in respect of any lease of the Borrower or any Subsidiary entered
into as part of a Sale and Leaseback Transaction subject to Section 6.06, (i) if such lease is a Capital Lease Obligation, the capitalized amount thereof that would appear on a balance sheet of such Person prepared as of such date in
accordance with GAAP and (ii) if such lease is not a Capital Lease Obligation, the capitalized amount of the remaining lease payments under such lease that would appear on a balance sheet of such Person prepared as of such date in accordance
with GAAP if such lease were accounted for as a Capital Lease Obligation. 
  
 “Automatic Reduction” has the meaning ascribed to such term in Section 2.09(g). 
  
 “Available Cash” means, on any date, (a) the fair market value on such date of cash and cash equivalents held in securities accounts
of the Borrower and the Domestic Subsidiaries and (b) the amount of available funds held on such date in bank deposit accounts (i) of the Borrower into which cash is transferred, directly or indirectly, by local depositary banks from bank
deposits accounts into which Stores deposit cash, credit card receipts and similar items (including the Borrower’s concentration accounts maintained with Bank of America, N.A.) and (ii) of any Domestic Subsidiary, provided,
however, that funds in bank deposit accounts of Domestic Subsidiaries will be included in calculating Available Cash on any date to the extent, but only to the extent, the aggregate amount of such funds exceeds $5,000,000. 
  
 “Board” means the Board of Governors of the Federal Reserve
System of the United States of America. 
  
 “Borrower” means Blockbuster Inc., a Delaware corporation. 
  
 “Borrowing” means borrowings by the Borrower consisting of (a) Loans of the same Class and Type, made, converted or continued on the same date and, in the case of Eurodollar Loans, as to which a
single Interest Period is in effect, (b) a Competitive Loan or group of Competitive Loans of the same type made on the same date and as to which a single Interest Period is in effect or (c) a Swingline Loan. 
  

 5 

 “Borrowing Request” means a request by the Borrower for a Borrowing in accordance with
Section 2.03. 
  
 “Business Day” means any
day that is not a Saturday, Sunday or other day on which commercial banks in New York City are authorized or required by law to remain closed; provided that, when used in connection with a Eurodollar Loan, the term “Business
Day” shall also exclude any day on which banks are not open for dealings in dollar deposits in the London interbank market. 
  
 “Capital Expenditures” means, with respect to any period, the sum, without duplication, of (a) expenditures made by the Borrower and
the Subsidiaries during such period to effect Permitted Acquisitions and (b) the additions to property, plant or equipment and other capital expenditures, including replacements, capitalized repairs and improvements during such period, of the
Borrower and the Subsidiaries for such period, determined in accordance with GAAP; provided that “Capital Expenditures” will be deemed to exclude assets received as a result of Permitted Store Swaps. 
  
 “Capital Lease Obligations” of any Person means the
obligations of such Person to pay rent or other amounts under any lease of (or other arrangement conveying the right to use) real or personal property, or a combination thereof, which obligations are required to be classified and accounted for as
capital leases on a balance sheet of such Person under GAAP, and the amount of such obligations shall be the capitalized amount thereof determined in accordance with GAAP. 
  
 “Capital Lease Principal Payments” means, for any period, amounts recorded or required to be recorded as
principal payments of Capital Lease Obligations on the consolidated financial statements of the Borrower prepared in accordance with GAAP. 
  
 “Change in Control” means (a) the acquisition of ownership, directly or indirectly, beneficially or of record, by any Person or
group (within the meaning of the Securities Exchange Act of 1934 and the rules of the Securities and Exchange Commission thereunder as in effect on the date hereof), of Equity Interests representing more than 50% of the aggregate voting power of the
Borrower; (b) occupation of a majority of the seats (other than vacant seats) on the board of directors of the Borrower by Persons who were not (i) members of the board of directors of the Borrower both on the date hereof and immediately
after the Split-Off Date, (ii) appointed to the board of directors of the Borrower in connection with the Split-Off, as set forth in the S-4, or (iii) nominated or appointed to such board of directors by Persons described in
clauses (i) and (ii) or their board nominees or appointees; or (c) the occurrence of a “Change of Control”, as defined in the Subordinated Debt Documents. 
  
 “Change in Law” means (a) the adoption of any law, rule or regulation after the date of this
Agreement, (b) any change in any law, rule or regulation or in the interpretation or application thereof by any Governmental Authority having regulatory or supervisory authority over banks or other financial institutions after the date of this

  

 6 

 Agreement or (c) compliance by any Lender or the applicable Issuing Bank (or, for purposes of Section 2.16(b),
by any lending office of such Lender or by such Lender’s or such Issuing Bank’s holding company, if any) with any request, guideline or directive (whether or not having the force of law) of any Governmental Authority having regulatory or
supervisory authority over banks or other financial institutions made or issued after the date of this Agreement. 
  
 “Class”, when used in reference to any Loan or Borrowing, refers to whether such Loan, or the Loans comprising such Borrowing, are
Revolving Loans, Tranche A Term Loans, Tranche B Term Loans, Swingline Loans or Competitive Loans and, when used in reference to any Commitment, refers to whether such Commitment is a Revolving Commitment, Tranche A Commitment or Tranche B
Commitment. 
  
 “Class A Common Stock” means
shares of Class A Common Stock, par value of $0.01 per share, of the Borrower. 
  
 “Class B Common Stock” means shares of Class B Common Stock, par value of $0.01 per share, of the Borrower. 
  
 “Code” means the Internal Revenue Code of 1986, as amended from time to time. 
  
 “Collateral” means any “Collateral” as such term
is defined in any Security Document and any assets in respect of which a Lien is created in favor of the Collateral Agent pursuant to any Security Document. 
  
 “Collateral Agent” means JPMorgan Chase Bank, N.A., in its capacity as collateral agent for the Lenders under any Loan Document and as
security trustee under the Security Trust Deed and Security Over Shares Agreement governed by the laws of the United Kingdom. 
  
 “Collateral Agreement” means the Guarantee and Collateral Agreement among, the Borrower, the Subsidiary Loan Parties and the Collateral
Agent, substantially in the form of Exhibit D. 
  
 “Collateral and Guarantee Requirement” means the requirement that: 
  
 (a) the Administrative Agent shall have received from each Loan Party (i) either (A) a counterpart of the Collateral Agreement
duly executed and delivered on behalf of such Loan Party or (B) in the case of any Person that becomes a Loan Party after the Effective Date, a supplement to the Collateral Agreement, in the form specified therein, duly executed and delivered
on behalf of such Loan Party and (ii) either (A) a counterpart of the Security Agreement duly executed and delivered on behalf of such Loan Party or (B) in the case of any Person that becomes a Loan Party after the Second Amendment
Effective Date, a supplement to the Security Agreement, in the form specified therein, duly executed and delivered on behalf of such Loan Party; 
  

 7 

 (b) all outstanding Equity Interests of each Domestic Subsidiary and of each Significant
Foreign Subsidiary (other than Blockbuster Australia Pty. Ltd.) owned by or on behalf of any Loan Party shall have been pledged pursuant to the Collateral Agreement or a Foreign Pledge Agreement (except that the Loan Parties shall not be required to
pledge more than 65% of the outstanding voting Equity Interests of any Significant Foreign Subsidiary) and the Collateral Agent shall have received certificates or other instruments, if any, representing all such Equity Interests, together with
stock powers or other instruments of transfer with respect thereto endorsed in blank; 
  
 (c) all outstanding non-voting Equity Interests and 65% of the outstanding voting Equity Interests of Blockbuster Australia Pty. Ltd.
shall be subject to a Memorandum of Deposit-Australian Shares in a form and substance acceptable to the Collateral Agent, and the Collateral Agent shall have received certificates or other instruments, if any, representing all such Equity Interests,
together with stock powers or other instruments of transfer with respect thereto endorsed in blank; 
  
 (d) the Administrative Agent shall have received counterparts of the Aircraft Security Agreement required to be entered into after the
Second Amendment Effective Date pursuant to Section 5.12 with respect to the Aircraft duly executed and delivered by the record owner of the Aircraft; 
  
 (e) the Administrative Agent shall have received (i) counterparts of any Mortgage required to be entered into after the Second
Amendment Effective Date pursuant to Section 5.12 with respect to each Mortgaged Property duly executed and delivered by the record owner of such Mortgaged Property, (ii) a policy or policies of title insurance issued by a nationally
recognized title insurance company insuring the Lien of each such Mortgage as a valid first Lien on the Mortgaged Property described therein, free of any other Liens (other than Permitted Encumbrances), together with such endorsements (other than
survey endorsements) as the Administrative Agent may reasonably request, and (iii) such legal opinions and other documents as the Administrative Agent may reasonably request with respect to any such Mortgage or Mortgaged Property; 

 
 (f) the Administrative Agent shall have received from
(i) each applicable Loan Party and (ii) each relevant depositary bank or securities intermediary, an executed counterpart of an Account Control Agreement in respect of (x) each Deposit and Securities Account set forth in the letter
from the Borrower addressed to the Administrative Agent dated November 4, 2005 and (y) each other Deposit and Securities Account with respect to which an Account Control Agreement is or is required to be entered into pursuant to
Section 6.16; and 
  
 (g) all documents and
instruments required by law or reasonably requested by the Collateral Agent to be filed, registered or recorded to (i) create the Liens intended to be created by the Security Documents and (ii) perfect such 
  

 8 

 Liens to the extent required by, and with the priority required by, the Security Documents, shall have
been filed, registered or recorded or delivered to the Collateral Agent for filing, registration or recording. 
  
 “Commercial Paper” means (i) any unsecured promissory note of the Borrower with a maturity at the time of issuance not exceeding
nine months, exclusive of days of grace, issued by the Borrower pursuant to a commercial paper program and (ii) any unsecured borrowing by the Borrower due within nine months of the borrowing date, exclusive of days of grace, pursuant to money
market or other similar short term uncommitted credit lines. 
  
 “Commitment” means a Revolving Commitment, Tranche A Commitment or Tranche B Commitment, or any combination thereof (as the context requires). 
  
 “Commitment Fee Rate” means, for any day, a rate per annum of (a) 0.500%, if on such date the Index
Debt falls or is deemed to fall within Category 3 of the definition of Applicable Margin pursuant to such definition or (b) 0.375%, if on such date the Index Debt does not fall and is not deemed to fall within Category 3 of the
definition of Applicable Margin pursuant to such definition. 
  
 “Competitive Bid” means an offer by a Lender to make a Competitive Loan in accordance with Section 2.04. 
  
 “Competitive Bid Rate” means, with respect to any Competitive Bid, the Margin or the Fixed Rate, as applicable, offered by the Lender
making such Competitive Bid. 
  
 “Competitive Bid
Request” means a request by the Borrower for Competitive Bids in accordance with Section 2.04. 
  
 “Competitive Loan” means a Loan made pursuant to Section 2.04. 
  
 “Competitive Loan Exposure” means, at any time, the aggregate principal amount of Competitive Loans
outstanding at such time. The Competitive Loan Exposure of any Revolving Lender at any time shall be the aggregate principal amount of the outstanding Competitive Loans of such Revolving Lender at such time. 
  
 “Consolidated EBITDA” means, with respect to any period, the
Consolidated Operating Income of the Borrower and the Subsidiaries for such period, plus, without duplication, the sum of: 
  
 (a) other income of the Borrower and the Subsidiaries for such period determined on a consolidated basis in accordance with GAAP to the
extent such other income is positive; 
  
 (b)
interest income of the Borrower and the Subsidiaries for such period determined on a consolidated basis in accordance with GAAP; 
  

 9 

 (c) amounts attributable to depreciation and amortization for such period (excluding
depreciation and amortization related to the rental inventory of the Borrower and the Subsidiaries), to the extent deducted in determining Consolidated Operating Income for such period; 
  
 (d) all Non-Cash Non-Recurring Charges during such period, to the extent deducted in determining
Consolidated Operating Income for such period; 
  
 (e) all losses associated with asset sales (including sales of Equity Interests) or dispositions of businesses permitted under this Agreement during such period (other than losses on sales of inventory sold in the ordinary course of
business and losses on sales of other assets if such losses are less than $1,000,000 individually and less than $10,000,000 in the aggregate during such period), to the extent deducted in determining Consolidated Operating Income for such period;

  
 (f) non-recurring charges incurred during
such period in connection with the Split Off, to the extent deducted in determining Consolidated Operating Income for such period; 
  
 (g) non-recurring cash charges incurred during such period in connection with the Borrower’s proposed acquisition of Hollywood
Entertainment Corporation, to the extent deducted in determining Consolidated Operating Income for such period; provided that the cumulative aggregate amount of charges added to Consolidated EBITDA for all periods pursuant to this clause
(g) shall not exceed $10,000,000; 
  
 (h)
non-recurring cash charges incurred during such period in connection with the settlement of the complaint filed on December 31, 2002, by Buena Vista Home Entertainment, Inc. in the United States District Court for the Central District of
California to the extent deducted in determining Consolidated Operating Income for such period; provided that the cumulative aggregate amount of charges added to Consolidated EBITDA for all periods relating to such complaint and settlement
shall not exceed $12,000,000; 
  
 (i)
non-recurring cash charges incurred during any fiscal quarter ending in calendar year 2005 but prior to the Third Amendment Effective Date, including severance costs, to the extent deducted in determining Consolidated Operating Income for such
period; provided that the cumulative aggregate amount of charges added to Consolidated EBITDA for all periods pursuant to this clause (i) shall not exceed $15,000,000; and 
  
 (j) non-recurring cash charges incurred during any fiscal quarter ending on or after the Third Amendment
Effective Date (including severance costs and costs associated with Store closures and the termination of real estate leases), to the extent deducted in determining Consolidated Operating Income for such period; provided that the cumulative
aggregate amount of charges added to Consolidated EBITDA for all periods pursuant to this clause (j) shall not exceed $50,000,000; 
  

 10 

 and minus, without duplication, the sum of: 
  
 (i) other income of the Borrower and the Subsidiaries for
such period determined on a consolidated basis in accordance with GAAP to the extent such other income is negative; 
  
 (ii) all Non-Cash Non-Recurring Gains during such period, to the extent included in determining Consolidated Operating Income for such
period; 
  
 (iii) all cash expenditures made in
such period attributable to non cash charges (other than non recurring charges) added back in determining Consolidated EBITDA pursuant to clause (d) above; 
  
 (iv) all gains associated with asset sales (including sales of Equity Interests) and dispositions of
businesses during such period (other than gains on sales of inventory sold in the ordinary course of business and gains on sales of other assets and businesses if such gains are less than $1,000,000 individually and less than $10,000,000 in the
aggregate during such period), to the extent included in determining Consolidated Operating Income for such period; and 
  
 (v) the proportional EBITDA of the interests held by any other Person in entities fully consolidated with the Borrower and the
Subsidiaries, as determined in accordance with the terms of this definition, to the extent not deducted in determining Consolidated Operating Income for such period. 
  
 For purposes of determining Consolidated EBITDA for any period, if the Borrower (x) acquires all or substantially all
the Equity Interests or assets of another Person during such period for aggregate consideration in excess of $25,000,000, (y) sells or transfers any Subsidiary, all or substantially all the assets of a Subsidiary or other assets constituting a
business operation during such period for aggregate consideration in excess of $25,000,000, or (z) sells or transfers prior to December 31, 2005 all or substantially all the assets of, or Equity Interest in, that certain Person specified
in the letter from the Borrower addressed to the Administrative Agent dated November 4, 2005, Consolidated EBITDA will be determined on a pro forma basis giving effect to such acquisition or disposition as if it had occurred on the first day of
such period. 
  
 In determining Consolidated EBITDA, if the
Borrower sells or transfers all or substantially all of the assets of, or Equity Interests in, that certain Person specified in the letter from the Borrower addressed to the Administrative Agent dated November 4, 2005, prior to
December 31, 2005, Consolidated EBITDA for the fiscal quarter ending December 31, 2005 will be increased by $5,000,000. 
  

 11 

 “Consolidated Interest Expense” means, for any period, the excess of (a) the sum of
(i) the interest expense (including imputed interest expense in respect of Capital Lease Obligations) of the Borrower and the Subsidiaries for such period, determined on a consolidated basis in accordance with GAAP, (ii) any interest
accrued during such period in respect of Indebtedness of the Borrower or any Subsidiary that is required to be capitalized rather than included in consolidated interest expense for such period in accordance with GAAP, plus (iii) any cash
payments made during such period in respect of obligations referred to in clause (b)(ii) below that were amortized or accrued in a previous period, minus (b) the sum of (i) to the extent included in such consolidated interest expense
for such period, non-cash amounts attributable to amortization of financing costs paid in a previous period, plus (ii) to the extent included in such consolidated interest expense for such period, non-cash amounts attributable to amortization
of debt discounts or accrued interest payable in kind for such period. 
  
 “Consolidated Net Income” means, for any period, the net income or loss of the Borrower and the Subsidiaries for such period determined on a consolidated basis in accordance with GAAP. 
  
 “Consolidated Operating Income” means, for any period, the
revenues from operations of the Borrower and the consolidated Subsidiaries for such period less the aggregate amount of (i) the operating costs and expenses (including, without duplication, general and administrative expenses and payments under
guarantees of leases) and (ii) the cost of sales of the Borrower and the consolidated Subsidiaries for such period, in each case determined on a consolidated basis in accordance with GAAP; provided, however, that there shall be
excluded (a) the operating income of any Person (other than a Loan Party) in which any other Person (other than the Borrower or a Subsidiary or any director holding qualifying shares in compliance with applicable law) owns an Equity Interest,
except to the extent of the amount of dividends or other distributions actually paid to the Borrower or any of the Subsidiaries during such period and (b) the operating income or loss of any Person accrued prior to the date it becomes a
Subsidiary or is merged with the Borrower or any Subsidiary or the date that such Person’s assets are acquired by the Borrower or any Subsidiary. 
  
 “Control” means the possession, directly or indirectly, of the power to direct or cause the direction of the management or policies of a
Person, whether through the ability to exercise voting power, by contract or otherwise. “Controlling” and “Controlled” have meanings correlative thereto. 
  
 “Convertible Preferred Stock” means the shares of the Borrower’s convertible preferred stock, if any,
originally issued and sold by it on or prior to the Third Amendment Effective Date, together with any additional shares of the Borrower’s convertible preferred stock issued upon the exercise of a related overallotment option and (b) any
dividends in the form of the Borrower’s Convertible Preferred Stock issued after the Third Amendment Effective Date with respect to the Borrower’s previously issued Convertible Preferred Stock. 
  

 12 

 “Default” means any event or condition which constitutes an Event of Default or which
upon notice, lapse of time or both would, unless cured or waived, become an Event of Default. 
  
 “Deposit and Securities Accounts” means (a) the deposit accounts and securities accounts set forth in the letter from the Borrower addressed to the Administrative Agent dated November 4,
2005 and (b) any other deposit account or securities account of the Loan Parties. 
  
 “dollars” or “$” refers to lawful money of the United States of America. 
  
 “Domestic Subsidiary” means each Subsidiary that is not a Foreign Subsidiary. 
  
 “Effective Date” means August 20, 2004. 
  
 “Environmental Laws” means all laws, rules, regulations,
codes, ordinances, orders, decrees, judgments, injunctions, notices or binding agreements issued, promulgated or entered into by any Governmental Authority, relating in any way to the environment, preservation or reclamation of natural resources,
the management, release or threatened release of any Hazardous Material or to health and safety matters relating to any Hazardous Materials and, in each case, applicable to the Borrower or any Subsidiary. 
  
 “Environmental Liability” means any liability, contingent or
otherwise (including any liability for damages, costs of environmental remediation, fines, penalties or indemnities), of the Borrower or any Subsidiary directly or indirectly resulting from or based upon (a) violation of any Environmental Law,
(b) the generation, use, handling, transportation, storage, treatment or disposal of any Hazardous Materials, (c) exposure to any Hazardous Materials, (d) the release or threatened release of any Hazardous Materials into the
environment or (e) any contract, agreement or other consensual arrangement pursuant to which liability is assumed or imposed with respect to any of the foregoing. 
  
 “Equity Interests” means shares of capital stock, partnership interests, membership interests in a limited
liability company, beneficial interests in a trust or other equity ownership interests in a Person. 
  
 “ERISA” means the Employee Retirement Income Security Act of 1974, as amended from time to time. 
  
 “ERISA Affiliate” means any trade or business (whether or
not incorporated) that, together with the Borrower, is treated as a single employer under Section 414(b) or (c) of the Code or, solely for purposes of Section 302 of ERISA and Section 412 of the Code, is treated as a single
employer under Section 414 of the Code. 
  

 13 

 “ERISA Event” means (a) any “reportable event”, as defined in
Section 4043 of ERISA or the regulations issued thereunder with respect to a Plan (other than an event for which the 30-day notice period is waived); (b) the existence with respect to any Plan of an “accumulated funding
deficiency” (as defined in Section 412 of the Code or Section 302 of ERISA), whether or not waived; (c) the filing pursuant to Section 412(d) of the Code or Section 303(d) of ERISA of an application for a waiver of the
minimum funding standard with respect to any Plan; (d) the incurrence by the Borrower or any of its ERISA Affiliates of any liability under Title IV of ERISA with respect to the termination of any Plan; (e) the receipt by the Borrower
or any ERISA Affiliate from the PBGC or a plan administrator of any notice relating to an intention to terminate any Plan or Plans or to appoint a trustee to administer any Plan; (f) the incurrence by the Borrower or any of its ERISA Affiliates
of any liability with respect to the withdrawal or partial withdrawal from any Plan or Multiemployer Plan; or (g) the receipt by the Borrower or any ERISA Affiliate of any notice, or the receipt by any Multiemployer Plan from the Borrower or
any ERISA Affiliate of any notice, concerning the imposition of Withdrawal Liability or a determination that a Multiemployer Plan is, or is expected to be, insolvent or in reorganization, within the meaning of Title IV of ERISA. 
  
 “Eurodollar”, when used in reference to any Loan or
Borrowing, refers to whether such Loan, or the Loans comprising such Borrowing, are bearing interest at a rate determined by reference to the Adjusted LIBO Rate (or, in the case of a Competitive Loan, the LIBO Rate). 
  
 “Event of Default” has the meaning assigned to such term in
Article VII. 
  
 “Excess Cash Flow” means,
for any fiscal year, the sum (without duplication) of: 
  
 (a) Consolidated Net Income for such fiscal year, adjusted to exclude any gains or losses attributable to Prepayment Events; plus 
  
 (b) depreciation, amortization and other non-cash charges or losses deducted in determining such Consolidated Net Income for such fiscal
year (excluding depreciation and amortization related to the rental inventory of the Borrower and the Subsidiaries); plus 
  
 (c) the net amount for such fiscal year, if any, of any increase in the deferred tax liability of the Borrower and the consolidated
Subsidiaries or any decrease in the deferred tax asset of the Borrower and the consolidated Subsidiaries, excluding any change in deferred taxes that does not change or offset the taxes payable (or receivable if applicable) account of the Borrower
and the consolidated Subsidiaries; minus 
  
 (d) the sum of (i) any non-cash gains included in determining such Consolidated Net Income for such fiscal year plus (ii) the net amount for such 
  

 14 

 fiscal year, if any, of any decrease in the deferred tax liability of the Borrower and the consolidated
Subsidiaries or any increase in the deferred tax asset of the Borrower and the consolidated Subsidiaries, excluding any change in deferred taxes that does not change or offset the taxes payable (or receivable if applicable) account of the Borrower
and the consolidated Subsidiaries; minus 
  
 (e) the sum, without duplication, of (i) cash Capital Expenditures for such fiscal year (except to the extent attributable to the incurrence of Capital Lease Obligations or otherwise financed by incurring Indebtedness and except to the
extent made with Net Proceeds in respect of sales, transfers or other dispositions of assets) plus (ii) cash consideration paid during such fiscal year to make acquisitions or other investments (other than Permitted Investments and
except to the extent financed by incurring Indebtedness); minus 
  
 (f) the aggregate principal amount of Long-Term Indebtedness repaid or prepaid by the Borrower and the consolidated Subsidiaries during such fiscal year, excluding (i) Indebtedness in respect of Revolving Loans
and Letters of Credit (other than voluntary prepayments of Revolving Loans in an aggregate amount not in excess of $50,000,000 that are accompanied by permanent reductions of the Revolving Commitments in an equal amount), (ii) Term Loans
prepaid pursuant to Section 2.12(c) or (d), and (iii) repayments or prepayments of Long-Term Indebtedness financed by incurring other Long-Term Indebtedness; minus 
  
 (g) the aggregate amount of cash dividends (other than any special dividend or extraordinary dividend) paid
on the Borrower’s common stock and the Convertible Preferred Stock during such fiscal year, in each case to the extent permitted by Section 6.08(a) and, to the extent not deducted in determining Consolidated Net Income, the amount of cash
repurchases of the Borrower’s common stock made pursuant to Section 6.08(a)(iii) during such fiscal year. 
  
 “Excluded Taxes” means, with respect to the Administrative Agent, any Lender, an Issuing Bank or any other recipient of any payment to be
made by or on account of any obligation of the Borrower hereunder, (a) income or franchise taxes imposed on (or measured by) its net income by the United States of America, or by the jurisdiction (or any political subdivision thereof) under the
laws of which (or of a political subdivision of which) such recipient is organized or in which its principal office is located or, in the case of any Lender, in which its applicable lending office is located, (b) any branch profits taxes
imposed by the United States of America or any similar tax imposed by any other jurisdiction described in clause (a) above and (c) in the case of a Foreign Lender (other than an assignee pursuant to a request by the Borrower under
Section 2.20(b)), any withholding tax that (i) is in effect and would apply to amounts payable to such Foreign Lender at the time such Foreign Lender becomes a party to this Agreement (or designates a new lending office), except to the
extent that such Foreign Lender (or its assignor, if any) was entitled, at the time of designation of a new lending office (or assignment), to receive additional amounts from the Borrower with respect to any withholding tax pursuant to
Section 2.18(a), or (ii) is attributable to such Foreign Lender’s failure to comply with Section 2.18(e). 
  

 15 

 “Existing Credit Agreement” means the Credit Agreement, dated as of June 21, 1999,
as amended, among the Borrower, the lenders party thereto and Citibank, N.A., as administrative agent for such lenders. 
  
 “Existing Letters of Credit” means the letters of credit issued for the account of the Borrower prior to the Effective Date and set forth
on Schedule 2.06. 
  
 “Federal Funds Effective
Rate” means, for any day, the weighted average (rounded upwards, if necessary, to the next 1/100 of 1%) of the rates on overnight Federal funds transactions with members of the Federal Reserve System arranged by Federal funds brokers, as
published on the next succeeding Business Day by the Federal Reserve Bank of New York, or, if such rate is not so published for any day that is a Business Day, the average (rounded upwards, if necessary, to the next 1/100 of 1%) of the
quotations for such day for such transactions received by the Administrative Agent from three Federal funds brokers of recognized standing selected by it. 
  
 “Financial Officer” means the chief financial officer, principal accounting officer, treasurer, assistant treasurer or controller of the
Borrower. 
  
 “Fixed Charge Coverage Ratio”
means, for any period, the ratio of (a) the sum of (i) Consolidated EBITDA for such period and (ii) Operating Lease Payments for such period to (b) the sum for such period of (i) Consolidated Interest Expense,
(ii) Operating Lease Payments, (iii) Capital Lease Principal Payments and (iv) dividends paid in cash during such period by the Borrower to holders of the Convertible Preferred Stock and other Equity Interests in the Borrower pursuant
to Section 6.08(a)(v) or (vi). 
  
 “Fixed
Rate” means, with respect to any Competitive Loan (other than a Eurodollar Competitive Loan), the fixed rate of interest per annum specified by the Lender making such Competitive Loan in its related Competitive Bid. 
  
 “Fixed Rate Loan” means a Competitive Loan bearing interest
at a Fixed Rate. 
  
 “Foreign Lender” means any
Lender that is organized under the laws of a jurisdiction other than that in which the Borrower is located. For purposes of this definition, the United States of America, each State thereof and the District of Columbia shall be deemed to constitute
a single jurisdiction. 
  
 “Foreign Pledge
Agreement” means a pledge agreement, debenture or other Security Document securing any of the Obligations that is governed by the law of a jurisdiction other than the United States and is reasonably satisfactory in form and substance to the
Collateral Agent. 
  

 16 

 “Foreign Subsidiary” means any Subsidiary that is organized under the laws of a
jurisdiction other than the United States of America or any State thereof or the District of Columbia. 
  
 “Franchisees” means a franchisee or licensee of the Borrower or the Subsidiaries operating a video rental store under the
“Blockbuster” name or another tradename owned by the Borrower or the Subsidiaries pursuant to an area development agreement, a franchise agreement or a licensing agreement. 
  
 “GAAP” means generally accepted accounting principles in the United States of America as in effect from
time to time, applied on a basis consistent (except for changes concurred with by the Borrower’s independent registered public accounting firm) with the consolidated financial statements of the Borrower contained in the Borrower’s
Form 10-K filed with the Securities and Exchange Commission on March 15, 2004. 
  
 “Governmental Authority” means the government of the United States of America, any other nation or any political subdivision thereof, whether state or local, and any agency, authority,
instrumentality, regulatory body, court, central bank or other entity exercising executive, legislative, judicial, taxing, regulatory or administrative powers or functions of or pertaining to government. 
  
 “Gross Leverage Ratio” means, as of any date, the ratio of
(a) the aggregate principal amount of Indebtedness of the Borrower and the Subsidiaries outstanding as of such date, in the amount that would be reflected on a balance sheet of the Borrower and the Subsidiaries prepared as of such date on a
consolidated basis in accordance with GAAP, to (b) Consolidated EBITDA for the period of the four consecutive fiscal quarters of the Borrower most recently ended on or prior to such date for which financial statements are available. 

 
 “Guarantee” of or by any Person (the
“guarantor”) means any obligation, contingent or otherwise, of the guarantor guaranteeing or having the economic effect of guaranteeing any Indebtedness of any other Person (the “primary obligor”) in any manner,
whether directly or indirectly, and including any obligation of the guarantor, direct or indirect, (a) to purchase or pay (or advance or supply funds for the purchase or payment of) such Indebtedness or to purchase (or to advance or supply
funds for the purchase of) any security for the payment thereof, (b) to purchase or lease property, securities or services for the purpose of assuring the owner of such Indebtedness of the payment thereof, (c) to maintain working capital,
equity capital or any other financial statement condition or liquidity of the primary obligor so as to enable the primary obligor to pay such Indebtedness or (d) as an account party in respect of any letter of credit or letter of guaranty
issued to support such Indebtedness; provided, that the term Guarantee shall not include endorsements for collection or deposit in the ordinary course of business. 
  

 17 

 “Hazardous Materials” means all explosive or radioactive substances or wastes and all
hazardous or toxic substances, wastes or other pollutants, including petroleum or petroleum distillates, polychlorinated biphenyls, radon gas, infectious or medical wastes and all other substances or wastes of any nature regulated pursuant to any
Environmental Law. 
  
 “Hedging Agreement” means
any interest rate protection agreement, foreign currency exchange agreement, commodity price protection agreement or other interest or currency exchange rate or commodity price hedging arrangement. 
  
 “Indebtedness” of any Person means, without duplication,
(a) all indebtedness and other obligations of such Person (i) for the payment of borrowed money (including, in the case of the Borrower, the obligations of the Borrower for borrowed money under this Agreement), (ii) evidenced by
bonds, notes, debentures, loan agreements, credit agreements or similar instruments or agreements or (iii) which are or should be shown on a consolidated balance sheet compiled in accordance with GAAP as debt liabilities, (b) all Capital
Lease Obligations of such person, (c) all obligations of such Person to pay the deferred purchase price of property or services (excluding current accounts payable incurred in the ordinary course of business), (d) all Indebtedness of
others secured by a Lien on any assets of such Person, whether or not such Indebtedness is assumed by such Person, (e) all obligations in respect of letters of credit (if drawn or supporting obligations that constitute Indebtedness) and
bankers’ acceptances and (f) all Guarantees of payment or collection of any obligation described in clauses (a), (b), (c), (d) and (e) above of any other Person. Notwithstanding anything to the contrary contained herein, the
Viacom LCs shall constitute Indebtedness only to the extent that they support Capital Lease Obligations or other obligations that would constitute Indebtedness and to the extent of any unreimbursed LC Disbursement relating thereto; provided
such Indebtedness will not in any event be counted in duplication of any associated Indebtedness otherwise covered by the definition of Indebtedness. The Indebtedness of any Person shall include the Indebtedness of any other entity (including any
partnership in which such Person is a general partner) to the extent such Person is liable therefor as a result of such Person’s ownership interest in or other relationship with such entity, except to the extent the terms of such Indebtedness
provide that such Person is not liable therefor. The Indebtedness of any Person shall not include revenue sharing arrangements or royalty obligations, including those relating to the production, distribution or acquisition of motion pictures, video
games or other programming, talent or publishing rights. 
  
 “Indemnified Taxes” means Taxes other than Excluded Taxes and Other Taxes. 
  
 “Index Debt” means senior, secured, long term indebtedness for borrowed money of the Borrower that is not Guaranteed by any other Person
(other than any Subsidiary) or subject to any other credit enhancement; provided that if the Indebtedness under this Agreement is rated by S&P or Moody’s separately from other Indebtedness that would fall within the foregoing
definition, the Index Debt for purposes of ratings established by such rating agency shall be the Indebtedness of the Borrower under this Agreement. 
  

 18 

 “Information Memorandum” means the Confidential Information Memorandum dated July 2004
relating to the Borrower and the Transactions together with (a) the written presentation materials and projections dated April 21, 2005, and the related written projections dated April 20, 2005, in each case delivered in connection
with a conference call on April 21, 2005 among the Borrower and the Lenders, (b) the written presentation materials and projections dated August 2, 2005, delivered in connection with a conference call on August 2, 2005 among the
Borrower and the Lenders and (c) the written presentation materials and projections dated October 25, 2005, and the related written projections dated October 25, 2005, in each case delivered in connection with a conference call on
October 25, 2005 among the Borrower and the Lenders. 
  
 “Interest Election Request” means a request by the Borrower to convert or continue a Revolving Borrowing or Term Borrowing in accordance with Section 2.08. 
  
 “Interest Payment Date” means (a) with respect to any ABR Loan (other than a Swingline Loan), the last
day of each March, June, September and December, (b) with respect to any Eurodollar Loan, the last day of the Interest Period applicable to the Borrowing of which such Loan is a part and, in the case of a Eurodollar Borrowing with an Interest
Period of more than three months’ duration, each day prior to the last day of such Interest Period that occurs at intervals of three months’ duration after the first day of such Interest Period, (c) with respect to any Fixed Rate
Loan, the last day of the Interest Period applicable to the Borrowing of which such Loan is a part and, in the case of a Fixed Rate Borrowing with an Interest Period of more than 90 days’ duration (unless otherwise specified in the
applicable Competitive Bid Request), each day prior to the last day of such Interest Period that occurs at intervals of 90 days’ duration after the first day of such Interest Period, and any other dates that are specified in the applicable
Competitive Bid Request as Interest Payment Dates with respect to such Borrowing, and (d) with respect to any Swingline Loan, the day that such Loan is required to be repaid. 
  
 “Interest Period” means, (a) with respect to any Eurodollar Borrowing, the period commencing on the
date of such Borrowing and ending on the numerically corresponding day in the calendar month that is one, two, three or six months thereafter (or nine months or twelve months thereafter or the day that is seven days or 14 days thereafter
if, at the time of the relevant Borrowing, Eurodollar funding for such a period is available to all Lenders participating therein), as the Borrower may elect and (b) with respect to any Fixed Rate Borrowing, the period (which shall not be less
than seven days or more than 270 days) commencing on the date of such Borrowing and ending on the date specified in the applicable Competitive Bid Request; provided, that (i) if any Interest Period for a Eurodollar Borrowing would
end on a day other than a Business Day, such Interest Period shall be extended to the next succeeding Business Day unless such next succeeding Business Day would fall in the next calendar month, in which case such Interest Period shall end on the
next preceding Business Day and (ii) any Interest Period 

  

 19 

 
for a Eurodollar Borrowing that commences on the last Business Day of a calendar month (or on a day for which there is no numerically corresponding day in
the last calendar month of such Interest Period) shall end on the last Business Day of the last calendar month of such Interest Period. For purposes hereof, the date of a Borrowing initially shall be the date on which such Borrowing is made and
thereafter shall be the effective date of the most recent conversion or continuation of such Borrowing. 
  
 “Investment” means purchasing, holding or acquiring (including pursuant to any merger or consolidation with any Person that was not a
wholly owned Subsidiary prior to such merger) any Equity Interests in or evidences of indebtedness or other securities (including any option, warrant or other right to acquire any of the foregoing) of, or making or permitting to exist any loans or
advances to, guaranteeing any obligations of, or making or permitting to exist any investment or any other interest in, any other Person, or purchasing or otherwise acquiring (in one transaction or a series of transactions) any assets of any other
Person constituting a business unit. 
  
 “Issuing
Banks” means JPMorgan Chase Bank, N.A., Credit Suisse First Boston, Citicorp North America, Inc., The Bank of New York, Wachovia Bank, National Association, and any other Lender designated as an Issuing Bank in accordance with the
provisions of Section 2.06(i), in each case, in its capacity as the issuer of Letters of Credit hereunder, and its successors in such capacity as provided in Section 2.06(i). An Issuing Bank may, in its discretion, arrange for one or more
Letters of Credit, as the case may be, to be issued by Affiliates of such Issuing Bank, in which case the term “Issuing Bank” shall include any such Affiliate with respect to Letters of Credit issued by such Affiliate. Notwithstanding the
foregoing, Citicorp North America, Inc. (and any Affiliate thereof) shall be deemed an Issuing Bank hereunder only in respect of the Viacom LC issued by it (or such Affiliate) in connection with the initial issuance of Viacom LCs under this
Agreement and any other Letter of Credit which it agrees to issue hereunder, it being understood that Citicorp North America, Inc. will have no obligation hereunder to issue any Letters of Credit in addition to such initial Viacom LC. 
  
 “LC Disbursement” means a payment made by an Issuing Bank
pursuant to a Letter of Credit. 
  
 “LC Exposure”
means, at any time, the sum of (a) the aggregate undrawn amount of all outstanding Letters of Credit at such time plus (b) the aggregate amount of all LC Disbursements that have not yet been reimbursed by or on behalf of the Borrower at
such time. The LC Exposure of any Revolving Lender at any time shall be its Applicable Percentage of the aggregate LC Exposures at such time. 
  
 “Lease Guarantees” , at any time of determination, means the guarantees or sureties or liabilities (contingent or direct) of Viacom
and/or its Affiliates (other than the Borrower and the Subsidiaries) under or with respect to any lease of real property by the Borrower, any of its Affiliates or any of their assignees (or any subsequent assignees thereof) existing on such date of
determination for which Viacom or any of its Affiliates has provided a guarantee or surety or otherwise has any liability (contingent or direct), 
  

 20 

 including any amendments, modifications or extensions thereof. “Lease Guarantees” shall not include any of the
guarantees, sureties or liabilities (contingent or direct) of Viacom and/or its Affiliates under or with respect to any leases of real property by Wherehouse Entertainment, Inc., its subsidiaries and Affiliates, and any successors thereto and any
assignees and transferees thereof. 
  
 “Lenders”
means the Persons listed on Schedule 2.01 and any other Person that shall have become a party hereto pursuant to an Assignment and Acceptance, other than any such Person that ceases to be a party hereto pursuant to an Assignment and Acceptance.
Unless the context otherwise requires, the term “Lenders” includes the Swingline Lender. 
  
 “Letter of Credit” means each Existing Letter of Credit and any letter of credit issued pursuant to this Agreement, including all Viacom
LCs. 
  
 “Leverage Ratio” means, on any date, the
ratio of (a) Total Indebtedness as of such date, to (b) Consolidated EBITDA for the period of the four consecutive fiscal quarters of the Borrower most recently ended on or prior to such date for which financial statements are available.

  
 “LIBO Rate” means, with respect to any
Eurodollar Borrowing for any Interest Period, the rate appearing on Page 3750 of the Telerate Service (or on any successor or substitute page of such Service) (rounded upward to the nearest 1/100 of 1% per annum) at approximately
11:00 a.m., London time, two Business Days prior to the commencement of such Interest Period, as the rate for dollar deposits with a maturity comparable to such Interest Period. In the event that such rate is not available, then the
“LIBO Rate” with respect to such Eurodollar Borrowing for such Interest Period shall be the rate per annum (rounded upward to the nearest 1/100 of 1% per annum) appearing on Reuters Screen LIBO page at approximately
11:00 a.m., London time, two Business Days prior to the commencement of such Interest Period, as the rate for dollar deposits with a maturity comparable to such Interest Period; provided however if more than one rate is specified on
the Reuters Screen LIBO page, the LIBO Rate shall be the arithmetic mean of all such rates. If neither the Telerate Page 3750 nor the Reuters Screen LIBO page rate is available, then the LIBO Rate shall be the rate per annum at which dollar
deposits are offered by the principal office of the Administrative Agent in London to prime banks in the London interbank market at approximately 11:00 a.m., London time, two Business Days prior to the commencement of such Interest Period with a
maturity equal to such Interest Period. 
  
 “Lien” means, with respect to any asset, (a) any mortgage, deed of trust, lien, pledge, hypothecation, encumbrance, charge or security interest in, on or of such asset, (b) the interest of a vendor or a lessor
under any conditional sale agreement, capital lease or title retention agreement (or any financing lease having substantially the same economic effect as any of the foregoing) relating to such asset and (c) in the case of securities, any
purchase option, call or similar right of a third party with respect to such securities. 
  

 21 

 “Loan Documents” means this Agreement and the Security Documents. 
  
 “Loan Parties” means the Borrower and the Subsidiary Loan
Parties. 
  
 “Loans” means the loans made by the
Lenders to the Borrower pursuant to this Agreement. 
  
 “Long-Term Indebtedness” means any Indebtedness (including in respect of Capital Lease Obligations) that, in accordance with GAAP, constitutes (or, when incurred, constituted) a long-term liability. 
  
 “Margin” means, with respect to any Competitive Loan bearing
interest at a rate based on the LIBO Rate, the marginal rate of interest, if any, to be added to or subtracted from the LIBO Rate to determine the rate of interest applicable to such Loan, as specified by the Lender making such Loan in its related
Competitive Bid. 
  
 “Material Adverse Effect”
means any event, condition or circumstance that has had or would reasonably be expected to have a material adverse effect on (a) the business, operations, assets or financial condition of the Borrower and the Subsidiaries, taken as a whole,
(b) the ability of the Loan Parties, taken as a whole, to perform any of their material obligations under any Loan Document or (c) the material rights of or benefits available to the Lenders under any Loan Document. 
  
 “Material Indebtedness” means Indebtedness or obligations in
respect of one or more Hedging Agreements of any one or more of the Borrower and the Subsidiaries in an aggregate principal amount exceeding $50,000,000. For purposes of determining Material Indebtedness, the “principal amount” of the
obligations of the Borrower or any Subsidiary in respect of any Hedging Agreement at any time shall be the maximum aggregate amount (giving effect to any netting agreements) that, the Borrower or such Subsidiary would be required to pay if such
Hedging Agreement were terminated at such time. 
  
 “Material Subsidiary” means at any date, for purposes of Section 3.12 and clauses (f), (h), (i), (j) or (k) of Article VII, any Subsidiary or any group of Subsidiaries in respect of which the events
referred to in any such clause have occurred, which (i) had aggregate revenues during the period of four consecutive fiscal quarters most recently ended on or prior to such date in respect of which financial statements have been delivered
pursuant to Section 5.01 of 5% or more of either total consolidated revenues of the Borrower and the Subsidiaries for such period or (ii) had total assets as of the last day of the most recent fiscal quarter in respect of which financial
statements have been delivered pursuant to Section 5.01 equal to 5% or more of the total consolidated assets of the Borrower and the Subsidiaries as of such date (in the case of any group of Subsidiaries taken together, calculated on a combined
basis in accordance with GAAP). 
  
 “Moody’s” means Moody’s Investors Service, Inc. 
  

 22 

 “Mortgage” means any mortgage, deed of trust, assignment of leases and rents, leasehold
mortgage or other security document granting a Lien on any real property and improvements thereto to secure the Obligations that is delivered after the Second Amendment Effective Date pursuant to Section 5.12. Each Mortgage shall be
substantially in the form of Exhibit A to the Second Amendment with such changes as may be appropriate to accommodate local legal requirements. 
  
 “Mortgaged Property” means each parcel of real property and improvements thereto located in the United States and owned by a Loan
Party with respect to which a Mortgage is granted pursuant to Section 5.12. 
  
 “Multiemployer Plan” means a multiemployer plan as defined in Section 4001(a)(3) of ERISA. 
  
 “Net Proceeds” means, with respect to any event (a) the cash proceeds received in respect of such event including (i) any cash
received in respect of any non-cash proceeds, but only as and when received, (ii) in the case of a casualty, insurance proceeds, and (iii) in the case of a condemnation or similar event, condemnation awards and similar payments, net of
(b) the sum of (i) all fees and out-of-pocket expenses paid by the Borrower and the Subsidiaries to third parties (other than Affiliates) in connection with such event, (ii) in the case of a sale, transfer or other disposition of an
asset (including pursuant to a sale and leaseback transaction or a casualty or a condemnation or similar proceeding), the amount of all payments required to be made by the Borrower and the Subsidiaries as a result of such event to repay Indebtedness
(other than Loans) secured by such asset or otherwise subject to mandatory prepayment as a result of such event, (iii) the amount of all taxes paid (or estimated to be payable) by the Borrower and the Subsidiaries directly attributable to such
event, and (iv) the amount of any reserves established by the Borrower and the Subsidiaries to fund contingent liabilities reasonably estimated to be payable, in each case during the year that such event occurred or the next succeeding year and
that are directly attributable to such event (in the case of amounts referred to in clauses (b)(iii) and (iv), as determined reasonably and in good faith by a Financial Officer). For purposes of this definition, proceeds received by any
Subsidiary of the Borrower other than a wholly owned Subsidiary shall be deemed to be Net Proceeds received by the Borrower only in an amount proportionate to the Equity Interest owned by the Borrower in such Subsidiary receiving such proceeds.

  
 “Non-Cash Non-Recurring Charges” means, for
any period, all non-cash non-recurring charges (to the extent such charges are not associated with asset sales or disposition of businesses described in clause (e) of the definition of Consolidated EBITDA) incurred during such period,
including, without limitation, all non-cash charges in respect (a) provisions for losses and additions to valuation allowances, (b) provisions for restructuring, litigation and environmental reserves and losses on the disposition of
businesses, (c) pension settlement charges, (d) provisions required by SFAS 142 or SFAS 143 or any successor pronouncements thereto and (e) any non-cash compensation charge or other non-cash expenses or charges arising from
the grant of or issuance or repricing of stock, stock options or other equity-based awards or any amendment, 
  

 23 

 modification, substitution or change of any such stock, stock options or other equity-based awards, in each case in
connection with employee plans or other compensation arrangements. 
  
 “Non-Cash Non-Recurring Gains” means, for any period, all non-cash non-recurring gains and all other non-cash gains (to the extent such other non-cash gains are not realized in the ordinary course of business or do not
constitute ordinary course operating income and are otherwise not associated with asset sales or dispositions of businesses described in clause (e) of the definition of Consolidated EBITDA), realized during such period, including refranchising
gains. 
  
 “Obligations” means (i) the
obligations of the Borrower hereunder to pay the principal of and interest on the Loans, to reimburse the LC Disbursements and to pay all other monetary obligations of the Borrower, including in respect of fees, costs, expenses, indemnities and
penalties, to the Lenders in their capacities as such under this Agreement or any other Loan Document, (ii) all other “Obligations” as such term is defined in the Collateral Agreement and (iii) all obligations of the Loan Parties
under the Collateral Agreement. 
  
 “Operating Lease
Payments” means, for any period, amounts recorded or required to be recorded as operating lease expenses on consolidated financial statements of the Borrower prepared in accordance with GAAP plus, to the extent not otherwise included
therein, payments by the Borrower or any Subsidiary during such period pursuant to Guarantees of operating leases of Franchisees or other Persons. 
  
 “Other Taxes” means any and all present or future recording, stamp, documentary, excise, transfer, sales, property or similar taxes,
charges or levies arising from any payment made by or on account of any obligation of the Borrower under any Loan Document or from the execution, delivery or enforcement of, or otherwise with respect to, any Loan Document. 
  
 “PBGC” means the Pension Benefit Guaranty Corporation
referred to and defined in ERISA and any successor entity performing similar functions. 
  
 “Perfection Certificate” means a certificate in the form of Exhibit II to the Collateral Agreement or any other form approved by the Collateral Agent. 
  
 “Permitted Acquisitions” means any acquisition (by merger,
consolidation or otherwise) by the Borrower or a Subsidiary of (x) all or substantially all the Equity Interests in a Person all or substantially all of whose assets consist of Stores and related equipment and inventory or (y) assets all
or substantially all of which consist of Stores and related equipment and inventory, if (a) at the time thereof and immediately after giving effect thereto, no Default shall have occurred and is continuing, (b) each Subsidiary resulting
from such acquisition (and which survives such acquisition) other than any Foreign Subsidiary, shall be a Subsidiary Loan Party and the Equity Interests of each such Subsidiary that is a Domestic Subsidiary or Significant Foreign Subsidiary

  

 24 

 owned by a Loan Party shall be owned directly by the Borrower and/or Subsidiary Loan Parties and shall have been (or
within 15 Business Days (or such longer period as may be reasonably acceptable to the Administrative Agent) after such acquisition shall be) pledged pursuant to the Collateral Agreement or a Foreign Pledge Agreement (subject to the limitations
of the pledge of Equity Interests of Significant Foreign Subsidiaries owned by a Loan Party set forth in the definition of “Collateral and Guarantee Requirement”), (c) the Collateral and Guarantee Requirement shall have been (or
within 15 Business Days (or such longer period as may be reasonably acceptable to the Administrative Agent) after such acquisition shall be) satisfied with respect to (i) each Subsidiary that is a Subsidiary Loan Party and (ii) each Person
acquiring such assets that is a Loan Party and (d) within 15 Business Days (or such longer period as may be allowed by the Administrative Agent in connection with clauses (b) and/or (c) above) after such acquisition, the Borrower has
delivered to the Administrative Agent an officer’s certificate confirming compliance with the requirements set forth in clauses (a), (b) and (c) above, together with all relevant financial information (to the extent available and
in the Borrower’s possession) for the Person or assets acquired; provided that (A) for all purposes under this Agreement, all acquisitions by the Borrower or the Subsidiaries of assets all or substantially all of which consist of
Stores and related equipment and inventory will be deemed “Permitted Acquisitions” and will be subject to the limitations set forth in Section 6.04(f) and (B) “Permitted Acquisitions” will be deemed to
exclude assets received by the Borrower and the Subsidiaries as a result of Permitted Store Swaps. 
  
 “Permitted Encumbrances” means: 
  
 (a) Liens imposed by law for taxes, assessments, or other governmental charges or levies that are not yet due or are being contested in
compliance with Section 5.05; 
  
 (b)
carriers’, warehousemen’s, mechanics’, materialmen’s, repairmen’s, landlord’s and other like Liens imposed by law, arising in the ordinary course of business and securing obligations that are not overdue by more than 30
days or are being contested in compliance with Section 5.05, or which, individually or in the aggregate, would not reasonably be expected to result in a Material Adverse Effect; 
  
 (c) pledges and deposits made in the ordinary course of business in compliance with workers’
compensation, unemployment insurance and other social security laws or similar regulations; 
  
 (d) judgment liens in respect of judgments that do not constitute an Event of Default under clause (k) of Article VII;
provided that no such judgment lien shall have equal or greater priority than the Liens created under the Loan Documents; 
  

 25 

 (e) easements, zoning restrictions, rights-of-way and similar encumbrances on real
property imposed by law or arising in the ordinary course of business that do not secure any monetary obligations and do not materially detract from the value of the affected property or interfere with the ordinary conduct of business of the
Borrower or any Subsidiary; 
  
 provided that the term “Permitted
Encumbrances” shall not include any Lien securing Indebtedness. 
  
 “Permitted Investments” means: 
  
 (a) direct obligations of, or obligations the principal of and interest on which are unconditionally guaranteed by, the United States of America (or by any agency thereof to the extent such obligations are backed by
the full faith and credit of the United States of America), in each case maturing within one year from the date of acquisition thereof; 
  
 (b) Investments in commercial paper maturing within 270 days from the date of acquisition thereof and having, at such date of acquisition,
the highest credit rating obtainable from S&P or from Moody’s; 
  
 (c) Investments in certificates of deposit, banker’s acceptances and time deposits maturing within 360 days from the date of acquisition thereof issued or guaranteed by or placed with, and money market deposit
accounts issued or offered by, any domestic office of any commercial bank organized or licensed under the laws of the United States of America or any State thereof which has a combined capital and surplus and undivided profits of not less than
$500,000,000; 
  
 (d) fully collateralized
repurchase agreements with a term of not more than 30 days for securities described in clause (a) above and entered into with a financial institution satisfying the criteria described in clause (c) above; and 
  
 (e) Investments in money market mutual funds that
(i) comply with the criteria set forth in Rule 2a-7 adopted by the SEC under the Investment Company Act of 1940, (ii) are rated AAA by S&P and Aaa by Moody’s and (iii) have portfolio assets in excess of $2,000,000,000.

  
 “Permitted Store Sales” means the sale,
transfer, assignment, sublease or other disposition by the Borrower or any Subsidiary of all or any portion of any Stores or of all or any portion of any properties and leasehold interests used or previously used by the Borrower and/or any
Subsidiary to operate Stores (and associated inventory, equipment and fixtures), including in connection with the sale or disposition of all or any Stores or any portions thereof in a given geographic region; provided that any such sale,
transfer, assignment, sublease or disposition is in the ordinary course of business and consistent with past practice; and provided further that “Permitted Store Sales” will be deemed to exclude assets transferred by the
Borrower and the Subsidiaries as a result of Permitted Store Swaps. 
  

 26 

 “Permitted Store Swap” means the exchange of (a) assets of the Borrower and the
Subsidiaries all or substantially all of which consist of Stores and related equipment and inventory for (b) assets of any other Person all or substantially all of which consist of Stores and related equipment and inventory; provided
that the value of the assets received by the Borrower and the Subsidiaries in any such exchange are of reasonably equivalent value as the assets transferred by the Borrower and the Subsidiaries in any such exchange. 
  
 “Permitted Subordinated Indebtedness” means Indebtedness of
the Borrower, the payment of which is subordinated to the Borrower’s obligations in respect of the Obligations on terms no less favorable in any significant respect to the Lenders than those applicable to the Subordinated Debt, and which
Indebtedness (a) is unsecured, (b) is not Guaranteed by any Subsidiary other than by Subsidiary Loan Parties on a subordinated basis on terms no less favorable in any significant respect to the Lenders than those applicable to the
Subsidiary Guarantees of the Subordinated Debt, and (c) does not mature or require any amortization payment to be made prior to the date that is six months after the Tranche B Maturity Date. 
  
 “Person” means any natural person, corporation, limited
liability company, trust, joint venture, association, company, partnership, Governmental Authority or other entity. 
  
 “Plan” means any employee pension benefit plan (other than a Multiemployer Plan) subject to the provisions of Title IV of ERISA or
Section 412 of the Code or Section 302 of ERISA, and in respect of which the Borrower or any ERISA Affiliate is (or, if such plan were terminated, would under Section 4069 of ERISA be deemed to be) an “employer” as defined
in Section 3(5) of ERISA. 
  
 “Prepayment
Event” means any sale, transfer, assignment, sublease or other disposition (including pursuant to a sale and leaseback transaction) of any property or asset of the Borrower or any Subsidiary (including any Equity Interests in Subsidiaries),
other than (i) sales, transfers or dispositions referred to in clauses (a) and (b) of Section 6.05 and subleases of Stores in the ordinary course of business and (ii) sales, transfers, assignments and other dispositions
resulting in aggregate cumulative Net Proceeds received after the Effective Date not exceeding $50,000,000. 
  
 “Prime Rate” means the rate of interest per annum publicly announced from time to time by JPMorgan Chase Bank, N.A. as its prime rate in
effect at its principal office in New York City; each change in the Prime Rate shall be effective from and including the date such change is publicly announced as being effective. 
  
 “Principal Issuing Bank” means, at any time, each Issuing Bank that at such time has outstanding Letters of
Credit with an aggregate undrawn amount in excess of $25,000,000, or such lesser amount as may be agreed by the Administrative Agent and the relevant Issuing Bank. 
  

 27 

 “Refinancing Indebtedness” means Indebtedness issued or incurred (including by means of
the extension or renewal of existing Indebtedness) to extend, renew or refinance existing Indebtedness (“Refinanced Debt”); provided that (i) such extending, renewing or refinancing Indebtedness is in an original aggregate principal
amount not greater than the aggregate principal amount of, and unpaid interest on, the Refinanced Debt plus the amount of any premiums paid thereon and fees and expenses associated therewith, (ii) such Indebtedness has the same or later
maturity and the same or longer weighted average life than the Refinanced Debt, (iii) if the Refinanced Debt or any Guarantees thereof are subordinated to the Obligations, such Indebtedness and any Guarantees thereof are subordinated to the
Obligations on terms no less favorable in any significant respect to the holders of the Obligations than the subordination terms of such Refinanced Debt or Guarantees thereof (and no Loan Party that has not guaranteed such Refinanced Debt guarantees
such Indebtedness), (iv) such Indebtedness contains covenants and events of default and is benefited by Guarantees (if any) which, taken as a whole, are not materially less favorable to the Borrower than the covenants and events of default of
or Guarantees (if any) in respect of such Refinanced Debt, (v) if such Refinanced Debt or any Guarantees thereof are secured, such Indebtedness and any Guarantees thereof are either unsecured or secured only by such assets as secured the
Refinanced Debt and Guarantees thereof and (vi) if such Refinanced Debt and any Guarantees thereof are unsecured, such Indebtedness and Guarantees thereof are also unsecured. 
  
 “Register” has the meaning assigned to such term in Section 9.04. 
  
 “Related Parties” means, with respect to any specified
Person, such Person’s Affiliates and the respective directors, officers, employees, agents and advisors of such Person and such Person’s Affiliates. 
  

“Repurchase Expenditures” means consideration paid by the Borrower or the Subsidiaries for the repurchase or redemption of any
Indebtedness, including without limitation in respect of principal (including accreted principal) and premium, if any, but excluding amounts attributable to accrued and unpaid interest that, pursuant to the terms of such Indebtedness, is payable in
cash no less frequently than semi-annually. 
  
 “Required
Lenders” means, at any time, Lenders having Revolving Exposures, Term Loans and unused Commitments representing more than 50% of the sum of the total Revolving Exposures, outstanding Term Loans and unused Commitments at such time;
provided that, for purposes of declaring the Loans to be due and payable pursuant to Article VII, and for all purposes after the Loans become due and payable pursuant to Article VII or the Commitments expire or terminate,
“Required Lenders” shall mean Lenders having outstanding Term Loans, Revolving Exposures and Competitive Loan Exposures representing more than 50% of the sum of the total outstanding Term Loans, Revolving Exposures and Competitive
Loan Exposures; 
  

 28 

 provided further that, for purposes of this definition, if any Lender has defaulted in its obligation to
fund any Loan hereunder, then the unused Commitments of such Lender shall be disregarded for all purposes in determining the Required Lenders. 
  
 “Required Fixed Charge Coverage Ratio” shall be satisfied as of any date of determination if, on such date of determination and on a pro
forma basis after giving effect to the event giving rise to the requirement to make such determination as if such event had occurred on the first day of the four fiscal quarters most recently ended, the Fixed Charge Coverage Ratio for such period of
four fiscal quarters is greater than or equal to (a) 1.25 to 1.00, if such date of determination is on or after the Third Amendment Effective Date but on or prior to December 31, 2005 and (b) 1.35 to 1.00, if such date of
determination is after December 31, 2005. 
  
 “Required Leverage Ratio” shall be satisfied as of any date of determination if, on such date of determination and on a pro forma basis after giving effect to the event giving rise to the requirement to make such
determination, the Leverage Ratio is less than or equal to (a) 3.25 to 1.00, if such date of determination is on or after the Third Amendment Effective Date but prior to December 31, 2006, (b) 3.00 to 1.00, if such date of
determination is on or after December 31, 2006 but prior to January 1, 2008, (c) 2.75 to 1.00, if such date of determination is on or after January 1, 2008 but prior to December 31, 2008 and (d) 2.50 to 1.00, if such
date of determination is on or after December 31, 2008. 
  
 “Restricted Payment” means any dividend or other distribution (whether in cash, securities or other property) to any Person other than the Borrower or any Loan Party with respect to any Equity Interests in the Borrower or
any Subsidiary, or any payment (whether in cash, securities or other property), including any sinking fund or similar deposit, on account of the purchase, redemption, retirement, acquisition, cancellation or termination of any Equity Interests in
the Borrower or any Subsidiary or any option, warrant or other right to acquire any such Equity Interests in the Borrower or any Subsidiary. 
  
 “Revolving Availability Period” means the period from and including the Effective Date to but excluding the earlier of the Revolving
Maturity Date and the date of termination of the Revolving Commitments. 
  
 “Revolving Commitment” means, with respect to each Lender, the commitment, if any, of such Lender to make Revolving Loans and to acquire participations in Letters of Credit and Swingline Loans hereunder, expressed as an
amount representing the maximum aggregate amount of such Lender’s Revolving Exposure hereunder, as such commitment may be (a) reduced from time to time pursuant to Section 2.09 and (b) reduced or increased from time to time
pursuant to assignments by or to such Lender pursuant to Section 9.04. The initial amount of each Lender’s Revolving Commitment is set forth on Schedule 2.01, or in the Assignment and Acceptance pursuant to which such Lender shall
have assumed its Revolving Commitment, as applicable. The initial aggregate amount of the Lenders’ Revolving Commitments is $500,000,000. 
  

 29 

 “Revolving Exposure” means, with respect to any Lender at any time, the sum of the
outstanding principal amount of such Lender’s Revolving Loans and its LC Exposure and Swingline Exposure at such time. 
  
 “Revolving Lender” means a Lender with a Revolving Commitment or, if the Revolving Commitments have terminated or expired, a Lender with
Revolving Exposure. 
  
 “Revolving Loan” means a
Loan made pursuant to clause (c) of Section 2.01. 
  
 “Revolving Maturity Date” means August 20, 2009. 
  
 “S-4” means the Form S-4 registration statement filed with the SEC, as amended prior to the date hereof, pursuant to which Viacom will exchange shares of Class A Common Stock and shares of
Class B Common Stock for shares of Class A common stock, par value $0.01 per share, of Viacom and shares of Class B common stock, par value $0.01 per share, of Viacom. 
  
 “S&P” means Standard & Poor’s. 
  
 “Sale and Leaseback Transaction” has the meaning assigned to
such term in Section 6.06. 
  
 “SEC” means
the Securities and Exchange Commission. 
  
 “SEC
Documents” has the meaning ascribed to such term in Section 3.04(c). 
  
 “Second Amendment” means the Second Amendment and Waiver dated as of August 8, 2005 to this Agreement. 
  
 “Second Amendment Effective Date” means August 8, 2005. 
  
 “Security Agreement” means the Security Agreement among the Borrower, the Subsidiary Loan Parties and the
Collateral Agent, substantially in the form of Exhibit B to the Second Amendment. 
  
 “Security Documents” means the Collateral Agreement, the Security Agreement, the Aircraft Security Agreement, each Foreign Pledge Agreement, the Mortgages, each Account Control Agreement and each
other security agreement or other instrument or document executed and delivered pursuant to Section 5.12 of this Agreement. 
  

 30 

 “Significant Foreign Subsidiary” means on any date each of Blockbuster Australia Pty.
Ltd., Blockbuster Canada Co, Blockbuster Entertainment (Ireland) Limited, Blockbuster Holdings Ireland, Blockbuster de Mexico S.A. de C.V., Blockbuster UK Limited and any other Foreign Subsidiary (i) Equity Interests in which are directly owned
by any Loan Party and (ii) a substantial portion of the consolidated revenues of which are derived from its operations and the operations of its subsidiaries in Canada, the United Kingdom, Ireland, Mexico or Australia. 
  
 “Special Dividend” means the special cash dividend to be
paid by Borrower to its stockholders on the Special Dividend Date in an approximate amount of $905,000,000, as described in the S-4. 
  
 “Special Dividend Date” means the date on which the Special Dividend is paid. 
  
 “Split-Off” means the distribution by Viacom of shares of
Class A Common Stock and Class B Common Stock described in the S-4. 
  
 “Split-Off Agreement” means the agreement referred to in clause (a) of the definition of Viacom Agreements. 
  
 “Split-Off Date” means the date on which Viacom has distributed, in connection with the Split Off, shares
of Class A Common Stock or Class B Common Stock which in the aggregate represent a distribution of “control” as defined in Section 368(c) of the Code. 
  
 “Statutory Reserve Rate” means a fraction (expressed as a decimal), the numerator of which is the number
one and the denominator of which is the number one minus the aggregate of the maximum reserve percentages (including any marginal, special, emergency or supplemental reserves) expressed as a decimal established by the Board to which the
Administrative Agent is subject for eurocurrency funding (currently referred to as “Eurocurrency Liabilities” in Regulation D of the Board). Such reserve percentages shall include those imposed pursuant to such Regulation D.
Eurodollar Loans shall be deemed to constitute eurocurrency funding and to be subject to such reserve requirements without benefit of or credit for proration, exemptions or offsets that may be available from time to time to any Lender under such
Regulation D or any comparable regulation. The Statutory Reserve Rate shall be adjusted automatically on and as of the effective date of any change in any reserve percentage. 
  
 “Store” means a retail outlet owned or operated by a Person for the sale, rental or trade of video products
(including videocassettes, DVDs and any technological successors thereto) and/or game products, and associated or other retail inventory of such Person. 
  

 31 

 “Subordinated Debt” means the 9% Senior Subordinated Notes due 2012 in the aggregate
principal amount of $300,000,000 and the Indebtedness represented thereby. 
  
 “Subordinated Debt Documents” means the indenture under which the Senior Subordinated Debt is issued and all other instruments, agreements and other documents evidencing or governing the Senior
Subordinated Debt or providing for any Guarantee or other right in respect thereof. 
  
 “subsidiary” means, with respect to any Person (the “parent”) at any date, any corporation, limited liability company, partnership, association or other entity the accounts of which
would be consolidated with those of the parent in the parent’s consolidated financial statements if such financial statements were prepared in accordance with GAAP as of such date, as well as any other corporation, limited liability company,
partnership, association or other entity of which securities or other ownership interests representing more than 50% of the equity or more than 50% of the ordinary voting power or, in the case of a partnership, more than 50% of the general
partnership interests are, as of such date, owned, controlled or held by the parent and/or one or more subsidiaries of the parent. 
  
 “Subsidiary” means any subsidiary of the Borrower. 
  
 “Subsidiary Loan Party” means each Subsidiary that is not a Foreign Subsidiary. 
  
 “Swingline Exposure” means, at any time, the aggregate
principal amount of all Swingline Loans outstanding at such time. The Swingline Exposure of any Revolving Lender at any time shall be its Applicable Percentage of the total Swingline Exposure at such time. 
  
 “Swingline Lender” means JPMorgan Chase Bank, N.A., in its
capacity as lender of Swingline Loans hereunder. 
  
 “Swingline Loan” means a Loan made pursuant to Section 2.05. 
  
 “Taxes” means any and all present or future taxes, levies, imposts, duties, deductions, charges or withholdings imposed by any Governmental Authority. 
  
 “Term Loans” means Tranche A Term Loans and Tranche B Term
Loans. 
  
 “Third Amendment” means the Third
Amendment and Restatement dated as of November 4, 2005 to this Agreement. 
  
 “Third Amendment Effective Date” means the first date on which the conditions to effectiveness of the Third Amendment were satisfied in accordance with the terms thereof. 
  

 32 

 “Total Indebtedness” means, as of any date, (a) the aggregate principal amount of
Indebtedness of the Borrower and the Subsidiaries outstanding as of such date, in the amount that would be reflected on a balance sheet of the Borrower and the Subsidiaries prepared as of such date on a consolidated basis in accordance with GAAP,
less (b) the amount of cash and Permitted Investments of the Borrower and the Subsidiaries that would be reflected on such balance sheet as of such date (other than any such cash or Permitted Investments that constitutes “restricted
cash” or is otherwise subject to any Lien in favor of any third party). 
  
 “Tranche A Commitment” means, with respect to each Lender, the commitment, if any, of such Lender to make a Tranche A Term Loan hereunder on the Effective Date, expressed as an amount representing the
maximum principal amount of the Tranche A Term Loan to be made by such Lender hereunder, as such commitment may be (a) reduced from time to time pursuant to Section 2.09 and (b) reduced or increased from time to time pursuant to
assignments by or to such Lender pursuant to Section 9.04. The initial amount of each Lender’s Tranche A Commitment is set forth on Schedule 2.01, or in the Assignment and Acceptance pursuant to which such Lender shall have
assumed its Tranche A Commitment, as applicable. The initial aggregate amount of the Lenders’ Tranche A Commitments is $100,000,000. 
  
 “Tranche A Lender” means a Lender with a Tranche A Commitment or an outstanding Tranche A Term Loan. 
  
 “Tranche A Maturity Date” means August 20, 2009.

  
 “Tranche A Term Loan” means a Loan made
pursuant to clause (a) of Section 2.01. 
  
 “Tranche B Commitment” means, with respect to each Lender, the commitment, if any, of such Lender to make a Tranche B Term Loan hereunder on the Effective Date, expressed as an amount representing the maximum principal
amount of the Tranche B Term Loan to be made by such Lender hereunder, as such commitment may be (a) reduced from time to time pursuant to Section 2.09 and (b) reduced or increased from time to time pursuant to assignments by or to
such Lender pursuant to Section 9.04. The initial amount of each Lender’s Tranche B Commitment is set forth on Schedule 2.01, or in the Assignment and Acceptance pursuant to which such Lender shall have assumed its Tranche A
Commitment, as applicable. The initial aggregate amount of the Lenders’ Tranche B Commitments is $550,000,000. 
  
 “Tranche B Lender” means a Lender with a Tranche B Commitment or an outstanding Tranche B Term Loan. 
  
 “Tranche B Maturity Date” means August 20, 2011.

  
 “Tranche B Term Loan” means a Loan made
pursuant to clause (b) of Section 2.01. 
  

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 “Transactions” means the execution, delivery and performance by each Loan Party of the
Loan Documents to which it is to be a party, the borrowing of Loans, the use of the proceeds thereof and the issuance of Letters of Credit hereunder. 
  
 “Type”, when used in reference to any Loan or Borrowing, refers to whether the rate of interest on such Loan, or on the Loans comprising
such Borrowing, is determined by reference to the Adjusted LIBO Rate or the Alternate Base Rate or, in the case of a Competitive Loan or Borrowing, the LIBO Rate or a Fixed Rate. 
  
 “Viacom” means Viacom Inc., a Delaware corporation. 
  
 “Viacom Agreements” means (a) the Amended and Restated
Initial Public Offering and Split-Off Agreement, dated as of June 18, 2004, among Viacom, Viacom International and the Borrower, (b) the Amended and Restated Release and Indemnification Agreement, dated as of June 18, 2004, between
Viacom and the Borrower, (c) the Amended and Restated Transition Services Agreement, dated as of June 18, 2004, between Viacom and the Borrower, (d) the Amended and Restated Registration Rights Agreement, dated as of June 18,
2004, between Viacom and the Borrower, (e) the Amended and Restated Tax Matters Agreement, dated as of June 18, 2004, between Viacom and the Borrower, and (f) the Judgment Sharing Agreement, dated as of June 18, 2004 among
Paramount Pictures Corporation, Sumner M. Redstone, Viacom and the Borrower, as each may be amended from time to time to the extent permitted by Section 6.11. 
  
 “Viacom International” means Viacom International, Inc., a Delaware corporation. 
  
 “Viacom LC” means one or more irrevocable Letters of Credit
issued pursuant to this Agreement in favor of Viacom, Viacom International, or any of Viacom’s Affiliates, as beneficiaries, as required by the Split-Off Agreement. Each Viacom LC will be substantially in the form of Exhibit C, or such
other form requested by the Borrower and reasonably acceptable to the Administrative Agent and the relevant Issuing Bank (such approvals not to be unreasonably withheld). 
  
 “Viacom LC Exposure” means, at any time, the aggregate undrawn amount of all outstanding Viacom LCs at such
time. The amount of LC Disbursements in respect of Viacom LCs that have not yet been reimbursed by or on behalf of the Borrower will not be deemed to constitute Viacom LC Exposure, but will be included in LC Exposure. The Viacom LC Exposure of any
Revolving Lender at any time shall be its Applicable Percentage of the aggregate Viacom LC Exposure at such time. 
  
 “Viacom Reserve Amount” means Revolving Commitments in the amount of $150,000,000, as such amount may be reduced and reinstated from time
to time solely in accordance with Section 2.09(g). 
  

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 “Voluntary Reduction” has the meaning assigned to such term in Section 2.09(g).

  
 “Withdrawal Liability” means liability to a
Multiemployer Plan as a result of a complete or partial withdrawal from such Multiemployer Plan, as such terms are defined in Part I of Subtitle E of Title IV of ERISA. 
  
 SECTION 1.02. Classification of Loans and Borrowings. For purposes of this Agreement, Loans may be classified and
referred to by Class (e.g., a “Revolving Loan”) or by Type (e.g., a “Eurodollar Loan”) or by Class and Type (e.g., a “Eurodollar Revolving Loan”). Borrowings also may be classified and referred to
by Class (e.g., a “Revolving Borrowing”) or by Type (e.g., a “Eurodollar Borrowing”) or by Class and Type (e.g., a “Eurodollar Revolving Borrowing”). 
  
 SECTION 1.03. Terms Generally. The definitions of terms herein shall
apply equally to the singular and plural forms of the terms defined. Whenever the context may require, any pronoun shall include the corresponding masculine, feminine and neuter forms. The words “include”, “includes” and
“including” shall be deemed to be followed by the phrase “without limitation”. The word “will” shall be construed to have the same meaning and effect as the word “shall”. Unless the context requires otherwise
(a) any definition of or reference to any agreement, instrument or other document herein shall be construed as referring to such agreement, instrument or other document as from time to time amended, supplemented or otherwise modified (subject
to any restrictions on such amendments, supplements or modifications set forth herein), (b) any reference herein to any Person shall be construed to include such Person’s successors and assigns, (c) the words “herein”,
“hereof” and “hereunder”, and words of similar import, shall be construed to refer to this Agreement in its entirety and not to any particular provision hereof, (d) all references herein to Articles, Sections, Exhibits and
Schedules shall be construed to refer to Articles and Sections of, and Exhibits and Schedules to, this Agreement and (e) the words “asset” and “property” shall be construed to have the same meaning and effect and to refer to
any and all tangible and intangible assets and properties, including cash, securities, accounts and contract rights. 
  
 SECTION 1.04. Accounting Terms; GAAP. Except as otherwise expressly provided herein, all accounting terms and all terms of a financial nature shall
be interpreted, all accounting determinations thereunder shall be made, and all financial statements required to be delivered thereunder shall be prepared, in accordance with GAAP; provided that, if the Borrower notifies the Administrative
Agent that the Borrower requests an amendment of any financial covenant to eliminate or modify the effect of any change after the date hereof in GAAP or in the application thereof on the operation of such covenant (or if the Administrative Agent
notifies the Borrower that the Required Lenders request an amendment of the financial covenants for such purpose), regardless of whether any such notice is given before or after such change in GAAP or in the application thereof, then the
Borrower’s compliance with such covenant shall be determined on the basis of GAAP as in effect and applied immediately before the relevant change became effective, until either such notice is withdrawn or such covenant is amended in a manner
satisfactory to the Borrower and the Required Lenders. 
  

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 ARTICLE II 
  
 The Credits 
  
 SECTION 2.01. Commitments. Subject to the terms and conditions set forth herein, each Lender agrees (a) to make a Tranche A Term Loan to the
Borrower on the Effective Date in a principal amount not exceeding its Tranche A Commitment, (b) to make a Tranche B Term Loan to the Borrower on the Effective Date in a principal amount not exceeding its Tranche B Commitment and (c) to
make Revolving Loans to the Borrower from time to time during the Revolving Availability Period in an aggregate principal amount that will not result in (i) the sum of such Lender’s Revolving Exposure exceeding such Lender’s Revolving
Commitment, or (ii) (x) the sum of the aggregate Revolving Exposures (minus the Viacom LC Exposures), plus the aggregate Competitive Loan Exposures exceeding (y) the aggregate Revolving Commitments minus the Viacom Reserve Amount.
Notwithstanding anything to the contrary in this Agreement, the Revolving Commitments constituting the Viacom Reserve Amount in effect from time to time shall be available solely for the issuance of Viacom LCs and shall not be utilized for any other
purpose, including Revolving Loans, Swingline Loans or Letters of Credit other than Viacom LCs. Within the foregoing limits and subject to the terms and conditions set forth herein, the Borrower may borrow, prepay and reborrow Revolving Loans.
Amounts repaid in respect of Term Loans may not be reborrowed. 
  
 SECTION 2.02. Loans and Borrowings. (a) Each Loan (other than a Swingline Loan or Competitive Loan) shall be made as part of a Borrowing consisting of Loans of the same Class and Type made by the Lenders ratably in accordance
with their Commitments of the applicable Class. The failure of any Lender to make any Loan required to be made by it shall not relieve any other Lender of its obligations hereunder; provided that the Commitments of the Lenders are several and
no Lender shall be responsible for any other Lender’s failure to make Loans as required. 
  
 (b) Subject to Section 2.15, each Revolving Borrowing and Term Borrowing shall be comprised entirely of ABR Loans or Eurodollar Loans as the Borrower may request in accordance herewith. Each Swingline Loan shall
be an ABR Loan. Each Competitive Loan shall be comprised entirely of Eurodollar Loans or Fixed Rate Loans as the Borrower may request in accordance herewith. Each Lender at its option may make any Eurodollar Loan by causing any domestic or foreign
branch or Affiliate of such Lender to make such Loan; provided that any exercise of such option shall not affect the obligation of the Borrower to repay such Loan in accordance with the terms of this Agreement. 
  
 (c) At the commencement of each Interest Period for any Eurodollar Borrowing,
such Borrowing shall be in an aggregate amount that is an integral multiple of $1,000,000 and not less than $5,000,000. At the time that each ABR Revolving 

  

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Borrowing is made, such Borrowing shall be in an aggregate amount that is an integral multiple of $1,000,000 and not less than $5,000,000; provided
that an ABR Revolving Borrowing may be in an aggregate amount that is equal to the entire unused balance of the aggregate Revolving Commitments less the Viacom Reserve Amount or that is required to finance the reimbursement of an LC Disbursement as
contemplated by Section 2.06(e). Each Swingline Loan shall be in an amount that is an integral multiple of $500,000 and not less than $1,000,000. Borrowings of more than one Type and Class may be outstanding at the same time; provided
that there shall not at any time be more than a total of 15 Eurodollar Revolving Borrowings outstanding. 
  
 (d) Notwithstanding any other provision of this Agreement, the Borrower shall not be entitled to request, or to elect to convert or continue, any
Borrowing if the Interest Period requested with respect thereto would end after the Revolving Maturity Date, Tranche A Maturity Date or Tranche B Maturity Date, as applicable . 
  
 SECTION 2.03. Requests for Borrowings. To request a Revolving Borrowing or Term Borrowing, the Borrower shall notify
the Administrative Agent of such request by telephone (a) in the case of a Eurodollar Borrowing, not later than 11:00 a.m., New York City time, three Business Days before the date of the proposed Borrowing or (b) in the case of an ABR
Borrowing, not later than 11:00 a.m., New York City time, on the Business Day of the proposed Borrowing; provided that any such notice of an ABR Revolving Borrowing to finance the reimbursement of an LC Disbursement as contemplated by
Section 2.06(e) may be given not later than 10:00 a.m., New York City time, on the date of the proposed Borrowing. Each such telephonic Borrowing Request shall be irrevocable and shall be confirmed promptly by hand delivery or telecopy to the
Administrative Agent of a written Borrowing Request in substantially the form attached hereto as Exhibit E (or any other form approved by the Administrative Agent) and signed by the Borrower. Each such telephonic and written Borrowing
Request shall specify the following information in compliance with Section 2.02: 
  
 (i) whether the requested Borrowing is to be a Revolving Borrowing, Tranche A Term Borrowing or Tranche B Term Borrowing; 
  
 (ii) the aggregate amount of such Borrowing; 
  
 (iii) the date of such Borrowing, which shall be a Business
Day; 
  
 (iv) whether such Borrowing is to be an
ABR Borrowing or a Eurodollar Borrowing; 
  
 (v)
in the case of a Eurodollar Borrowing, the initial Interest Period to be applicable thereto, which shall be a period contemplated by the definition of the term “Interest Period”; and 
  

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 (vi) the location and number of the Borrower’s account to which funds are to be
disbursed, which shall comply with the requirements of Section 2.07. 
  
 If
no election as to the Type of Borrowing is specified, or if no Interest Period is specified with respect to any requested Eurodollar Revolving Borrowing, then the requested Borrowing shall be deemed a Eurodollar Revolving Borrowing with an Interest
Period of one month’s duration. Promptly following receipt of a Borrowing Request in accordance with this Section, the Administrative Agent shall advise each Lender of the details thereof and of the amount of such Lender’s Loan to be made
as part of the requested Borrowing. 
  
 SECTION 2.04.
Competitive Bid Procedure. (a) Subject to the terms and conditions set forth herein, from time to time during the Revolving Availability Period the Borrower may request Competitive Bids and may (but shall not have any obligation to)
accept Competitive Bids and borrow Competitive Loans; provided that (x) the sum of the aggregate Revolving Exposures (other than the Viacom LC Exposures) plus the aggregate Competitive Loan Exposures shall not at any time exceed
(y) the aggregate Revolving Commitments minus the aggregate Viacom Reserve Amount. While Competitive Loans are outstanding, availability under the Revolving Commitment shall be reduced by the aggregate amount of such outstanding Competitive
Loans. To request Competitive Bids, the Borrower shall notify the Administrative Agent of such request by telephone (a) in the case of a Eurodollar Borrowing, not later than 11:00 a.m., New York City time, three Business Days before the
date of the proposed Borrowing or (b) in the case of a Fixed Rate Borrowing, not later than 11:00 a.m., New York City time, one Business Day before the date of the proposed Borrowing; provided that the Borrower may submit up to (but
not more than) two Competitive Bid Requests on the same day, but a Competitive Bid Request shall not be made within five Business Days after the date of any previous Competitive Bid Request, unless any and all such previous Competitive Bid Requests
shall have been withdrawn or all Competitive Bids received in response thereto rejected. Each such telephonic Competitive Bid Request shall be confirmed promptly by hand delivery or telecopy to the Administrative Agent of a written Competitive Bid
Request in substantially the form attached hereto as Exhibit F (or any other form approved by the Administrative Agent) and signed by the Borrower. Each such telephonic and written Competitive Bid Request shall specify the following
information in compliance with Section 2.02: 
  
 (i) the aggregate amount of the requested Borrowing; 
  
 (ii) the date of such Borrowing, which shall be a Business Day; 
  
 (iii) whether such Borrowing is to be a Fixed Rate Borrowing or a Eurodollar Borrowing; 
  
 (iv) the Interest Period to be applicable to such Borrowing,
which shall be a period contemplated by the definition of the term “Interest Period”; 
  

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 (v) the location and number of the Borrower’s account to which funds are to be
disbursed, which shall comply with the requirements of Section 2.07; 
  
 (vi) whether such Borrowing may be prepaid and if so on what terms; and 
  
 (vii) the date interest payments will be made with respect to such Borrowing if different than the times set forth in the definition of
Interest Payment Date. 
  
 Promptly following receipt of a Competitive Bid Request
in accordance with this Section, the Administrative Agent shall notify the Lenders of the details thereof by telecopy, inviting the Lenders to submit Competitive Bids. 
  
 (b) Each Lender may (but shall not have any obligation to) make one or more Competitive Bids to the Borrower in response to
a Competitive Bid Request. Each Competitive Bid by a Lender must be in substantially the form attached hereto as Exhibit G (or any other form approved by the Administrative Agent) and must be received by the Administrative Agent by
telecopy, in the case of a Eurodollar Competitive Borrowing, not later than 9:30 a.m., New York City time, two Business Days before the proposed date of such Competitive Borrowing, and in the case of an ABR Borrowing, not later than
9:30 a.m., New York City time, on the proposed date of such Competitive Borrowing. Competitive Bids that do not conform substantially to the form attached hereto as Exhibit G may be rejected by the Administrative Agent, and the
Administrative Agent shall notify the applicable Lender as promptly as practicable. Each Competitive Bid shall specify (i) the principal amount (which shall be a minimum of $5,000,000 and an integral multiple of $1,000,000 and which may equal
the entire principal amount of the Competitive Borrowing requested by the Borrower) of the Competitive Loan or Loans that the Lender is willing to make and (ii) the Competitive Bid Rate or Competitive Bid Rates at which the Lender is prepared
to make such Loan or Loans (expressed as a percentage rate per annum in the form of a decimal to no more than four decimal places). 
  
 (c) The Administrative Agent shall promptly notify the Borrower by telecopy of the Competitive Bid Rates and the principal amount specified in each
Competitive Bid and the identity of each Lender that shall have made such Competitive Bids. 
  
 (d) Subject only to the provisions of this paragraph, the Borrower may accept or reject any Competitive Bid. The Borrower shall notify the Administrative Agent by telephone, confirmed by telecopy, whether and to what
extent it has decided to accept or reject each Competitive Bid, in the case of a Eurodollar Competitive Borrowing, not later than 10:30 a.m., New York City time, two Business Days before the date of the proposed Competitive Borrowing, and
in the case of a Fixed Rate Borrowing, not later than 11:00 a.m., New York City time, on the proposed date of the Competitive 

  

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Borrowing; provided that (i) the failure of the Borrower to give such notice shall be deemed to be a rejection of each Competitive Bid,
(ii) the Borrower shall not accept a Competitive Bid made at a particular Competitive Bid Rate if the Borrower rejects a Competitive Bid made at a lower Competitive Bid Rate, (iii) the aggregate amount of the Competitive Bids accepted by
the Borrower shall not exceed the aggregate amount of the requested Competitive Borrowing specified in the related Competitive Bid Request, (iv) to the extent necessary to comply with clause (iii) above, the Borrower may accept
Competitive Bids at the same Competitive Bid Rate in part, which acceptance, in the case of multiple Competitive Bids at such Competitive Bid Rate, shall be made pro rata in accordance with the amount of each such Competitive Bid, and
(v) except pursuant to clause (iv) above, no Competitive Bid shall be accepted for a Competitive Loan unless such Competitive Loan is in a minimum principal amount of $5,000,000 and an integral multiple of $1,000,000; provided,
further, that if a Competitive Loan must be in an amount less than $5,000,000 because of the provisions of clause (iv) above, such Competitive Loan may be for a minimum of $1,000,000 or any integral multiple thereof, and in
calculating the pro rata allocation of acceptances of portions of multiple Competitive Bids at a particular Competitive Bid Rate pursuant to clause (iv) the amounts shall be rounded to integral multiples of $1,000,000 in a manner
determined by the Borrower. A notice given by the Borrower pursuant to this paragraph shall be irrevocable. 
  
 (e) The Administrative Agent shall promptly notify each bidding Lender by telecopy whether or not its Competitive Bid has been accepted (and, if so, the
amount and Competitive Bid Rate so accepted), and each successful bidder will thereupon become bound, subject to the terms and conditions hereof, to make the Competitive Loan in respect of which its Competitive Bid has been accepted in accordance
with Section 2.07. 
  
 (f) If the Administrative Agent shall
elect to submit a Competitive Bid in its capacity as a Lender, it shall submit such Competitive Bid directly to the Borrower at least one quarter of an hour earlier than the time by which the other Lenders are required to submit their Competitive
Bids to the Administrative Agent pursuant to paragraph (b) of this Section. 
  
 SECTION 2.05. Swingline Loans. (a) Subject to the terms and conditions set forth herein, the Swingline Lender agrees to make Swingline Loans to the Borrower from time to time during the Revolving
Availability Period, in an aggregate principal amount at any time outstanding that will not result in (i) the aggregate principal amount of outstanding Swingline Loans exceeding $50,000,000 or (ii) (x) the sum of the aggregate
Revolving Exposures (other than the Viacom LC Exposures) plus the aggregate Competitive Loan Exposures exceeding (y) the aggregate Revolving Commitments minus the Viacom Reserve Amount; provided that the Swingline Lender shall not be
required to make a Swingline Loan to refinance an outstanding Swingline Loan. Within the foregoing limits and subject to the terms and conditions set forth herein, the Borrower may borrow, prepay and reborrow Swingline Loans. 
  

 40 

 (b) To request a Swingline Loan, the Borrower shall notify the Administrative Agent of such request by
telephone (confirmed by telecopy), not later than 12:00 noon, New York City time, on the day of a proposed Swingline Loan. Each such notice shall be irrevocable and shall specify the requested date (which shall be a Business Day) and amount of the
requested Swingline Loan. The Administrative Agent will promptly advise the Swingline Lender of any such notice received from the Borrower. The Swingline Lender shall make each Swingline Loan available to the Borrower by means of a credit to the
general deposit account of the Borrower with the Swingline Lender or shall initiate a wire transfer of the proceeds of such Borrowing to any other domestic bank deposit account designated by the Borrower (or, in the case of a Swingline Loan made to
finance the reimbursement of an LC Disbursement as provided in Section 2.06(e), by remittance to the applicable Issuing Bank) by 3:00 p.m., New York City time, on the requested date of such Swingline Loan. 
  
 (c) The Swingline Lender may by written notice given to the Administrative
Agent not later than 12:00 noon, New York City time, on any Business Day require the Revolving Lenders to acquire participations on such Business Day in all or a portion of the Swingline Loans outstanding. Such notice shall specify the
aggregate amount of Swingline Loans in which Revolving Lenders will participate. Promptly upon receipt of such notice, the Administrative Agent will give notice thereof to each Revolving Lender, specifying in such notice such Lender’s
Applicable Percentage of such Swingline Loan or Loans. Each Revolving Lender hereby absolutely and unconditionally agrees, upon receipt of notice as provided above, to pay to the Administrative Agent, for the account of the Swingline Lender, such
Lender’s Applicable Percentage of such Swingline Loan or Loans. Each Revolving Lender acknowledges and agrees that its obligation to acquire participations in Swingline Loans pursuant to this paragraph is absolute and unconditional and shall
not be affected by any circumstance whatsoever, including the occurrence and continuance of a Default or reduction or termination of the Commitments, and that each such payment shall be made without any offset, abatement, withholding or reduction
whatsoever. Each Revolving Lender shall comply with its obligation under this paragraph by wire transfer of immediately available funds, in the same manner as provided in Section 2.07 with respect to Loans made by such Lender (and
Section 2.07 shall apply, mutatis mutandis, to the payment obligations of the Revolving Lenders), and the Administrative Agent shall promptly pay to the Swingline Lender the amounts so received by it from the Revolving Lenders.
The Administrative Agent shall notify the Borrower of any participations in any Swingline Loan acquired pursuant to this paragraph, and thereafter payments in respect of such Swingline Loan shall be made to the Administrative Agent and not to the
Swingline Lender. Any amounts received by the Swingline Lender from the Borrower (or other party on behalf of the Borrower) in respect of a Swingline Loan after receipt by the Swingline Lender of the proceeds of a sale of participations therein
shall be promptly remitted to the Administrative Agent; any such amounts received by the Administrative Agent shall be promptly remitted by the Administrative Agent to the Revolving Lenders that shall have made their payments pursuant to this
paragraph and to the Swingline Lender, as their interests may appear. The purchase of participations in a Swingline Loan pursuant to this paragraph shall not relieve the Borrower of any default in the payment thereof. 
  

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 SECTION 2.06. Letters of Credit. (a) (i) Subject to the terms and conditions set forth
herein, on the Effective Date, the Issuing Bank(s) shall issue for the account of Borrower a Viacom LC requested by the Borrower pursuant to the Split-Off Agreement. Additionally, subject to the terms and conditions set forth herein, the Borrower
may request the issuance of Viacom LCs for its own account at any time and from time to time during the Revolving Availability Period. Availability under the Viacom Reserve Amount (as such Viacom Reserve Amount may be adjusted from time to time in
accordance with Section 2.09(g)) shall be reduced by the Viacom LC Exposure, it being understood that the Viacom Reserve Amount may be used solely for the issuance of Viacom LCs. 
  
 (ii) Subject to the terms and conditions set forth herein, the Borrower may request the issuance of Letters
of Credit other than Viacom LCs for its own account, in a form reasonably acceptable to the Administrative Agent and the applicable Issuing Bank, at any time and from time to time during the Revolving Availability Period; provided that the issuance
of any such Letter of Credit shall not result in (i) the aggregate Revolving Exposures (minus the Viacom LC Exposures) plus the aggregate Competitive Loan Exposures exceeding (ii) the aggregate Revolving Commitments minus the Viacom
Reserve Amount. Availability under the Revolving Commitments (other than the Viacom Reserve Amount) shall be reduced by the aggregate amount of LC Exposure (other than Viacom LC Exposure) outstanding from time to time. Each Existing Letter of Credit
shall be deemed to be a Letter of Credit for all purposes hereof and shall be deemed to have been issued hereunder on the Effective Date. 
  
 (iii) In the event of any inconsistency between the terms and conditions of this Agreement and the terms and conditions of any form of
letter of credit application or other agreement submitted by the Borrower to, or entered into by the Borrower with, the applicable Issuing Bank relating to any Letter of Credit, the terms and conditions of this Agreement shall control. 

 
 (b) Notice of Issuance, Amendment, Renewal, Extension; Certain
Conditions. To request the issuance of a Letter of Credit (or the amendment, renewal or extension of an outstanding Letter of Credit, the Borrower shall hand deliver or telecopy (or transmit by electronic communication, if arrangements for doing
so have been approved by the applicable Issuing Bank) to the applicable Issuing Bank and the Administrative Agent (reasonably in advance of the requested date of issuance (including the Effective Date, in the case of Viacom LCs to be issued on the
Effective Date), amendment, renewal or extension) a notice requesting the issuance of such Letter of Credit or identifying the Letter of Credit to be amended, renewed or extended, and specifying the date of issuance, amendment, renewal or extension
(which shall be a 

  

 42 

 
Business Day), the date on which such Letter of Credit is to expire (which shall comply with paragraph (c) of this Section), the amount of such
Letter of Credit, the name and address of the beneficiary thereof, whether such Letter of Credit is a Viacom LC and such other information as shall be necessary to prepare, amend, renew or extend such Letter of Credit. If requested by an Issuing
Bank, the Borrower also shall submit a letter of credit application on such Issuing Bank’s standard form in connection with any request for a Letter of Credit. A Letter of Credit other than a Viacom LC shall be issued, amended, renewed or
extended only if (and upon issuance, amendment, renewal or extension of each Letter of Credit the Borrower shall be deemed to represent and warrant that), after giving effect to such issuance, amendment, renewal or extension, (x) the aggregate
Revolving Exposures other than the Viacom LC Exposures plus the aggregate Competitive Loan Exposures shall not exceed (y) the aggregate Revolving Commitments less the Viacom Reserve Amount. A Viacom LC shall be issued, amended, renewed or
extended only if (and upon issuance, amendment, renewal or extension of each Viacom LC the Borrower shall be deemed to represent and warrant that), after giving effect to such issuance, amendment, renewal or extension, the aggregate Viacom LC
Exposures shall not exceed the Viacom Reserve Amount. Subject to the foregoing, (i) after the Effective Date, the Borrower may request the issuance of additional Viacom LCs, provided that, and the Borrower by making any such request will be
deemed to represent that, the issuance of such additional Viacom LCs have been approved by Viacom, (ii) the beneficiary of any Viacom LC may surrender such Letter of Credit at any time to the relevant Issuing Bank for cancellation, including in
connection with any request by the Borrower pursuant to clause (i) above for the issuance of a replacement Viacom LC in a lesser or greater amount, and (iii) the Borrower may from time to time request an amendment to any Viacom LC
(including to reduce or increase the amount thereof), but no such amendment shall become effective unless consented to by the beneficiary of such Viacom LC. Except for Automatic Reductions that reduce the Viacom Reserve Amount as set forth in
Section 2.09(g), any increase or decrease in the outstanding amounts of the Viacom LCs shall not increase or decrease the Viacom Reserve Amount. 
  
 (c) Expiration Date. Each Letter of Credit shall expire at or prior to the close of business on the earlier of (i) the date one year after the
date of the issuance of such Letter of Credit (or, in the case of any renewal or extension thereof, one year after such renewal or extension) and (ii) the date that is five Business Days prior to the Revolving Maturity Date; provided,
however, that any Letter of Credit, including any Viacom LC, may provide for automatic renewal on an annual basis substantially in accordance with the provisions of Exhibit C hereof, so long as any such Letter of Credit expires at or
prior to the date that is five Business Days prior to the Revolving Maturity Date. 
  
 (d) Participations. By the issuance of a Letter of Credit (or an amendment to a Letter of Credit increasing the amount thereof) and without any further action on the part of the applicable Issuing Bank or the
Lenders, such Issuing Bank hereby grants to each Revolving Lender, and each Revolving Lender hereby acquires from such Issuing Bank, a participation in such Letter of Credit equal to such Lender’s Applicable Percentage of the aggregate amount
available to be drawn under such Letter of Credit. In 

  

 43 

 
consideration and in furtherance of the foregoing, each Revolving Lender hereby absolutely and unconditionally agrees to pay to the Administrative Agent, for
the account of the applicable Issuing Bank, such Lender’s Applicable Percentage of each LC Disbursement made by such Issuing Bank and not reimbursed by the Borrower on the date due as provided in paragraph (e) of this Section, or of any
reimbursement payment required to be refunded to the Borrower for any reason. Each Lender acknowledges and agrees that its obligation to acquire participations pursuant to this paragraph in respect of Letters of Credit is absolute and unconditional
and shall not be affected by any circumstance whatsoever, including any amendment, renewal or extension of any Letter of Credit or the occurrence and continuance of a Default or reduction or termination of the Commitments, and that each such payment
shall be made without any offset, abatement, withholding or reduction whatsoever. On the Effective Date and without further action by any party hereto, each Issuing Bank that has issued an Existing Letter of Credit shall be deemed to have granted to
each Revolving Lender, and each Revolving Lender shall be deemed to have acquired from such Issuing Bank, a participation in each such Existing Letter of Credit in accordance with the foregoing provisions of this paragraph. 
  
 (e) Reimbursement. If an Issuing Bank shall make any LC Disbursement
in respect of a Letter of Credit, the Borrower shall reimburse such LC Disbursement by paying to the Administrative Agent an amount equal to such LC Disbursement not later than 12:00 noon, New York City time, on the date that such LC Disbursement is
made, if the Borrower shall have received notice of such LC Disbursement prior to 10:00 a.m., New York City time, on such date, or, if such notice has not been received by the Borrower prior to such time on such date, then not later than 12:00 noon,
New York City time, on (i) the Business Day that the Borrower receives such notice, if such notice is received prior to 10:00 a.m., New York City time, on the day of receipt, or (ii) the Business Day immediately following the day that the
Borrower receives such notice, if such notice is not received prior to such time on the day of receipt; provided that, if such LC Disbursement is not less than $1,000,000 the Borrower may, subject to the conditions to borrowing set forth
herein, request in accordance with Section 2.03 or 2.05 that such payment be financed with an ABR Revolving Borrowing or Swingline Loan in an equivalent amount and, to the extent so financed, the Borrower’s obligation to make such payment
shall be discharged and replaced by the resulting ABR Revolving Borrowing or Swingline Loan. If the Borrower fails to make such payment when due, the Administrative Agent shall notify each Revolving Lender of the applicable LC Disbursement, the
payment then due from the Borrower in respect thereof and such Lender’s Applicable Percentage thereof. Promptly following receipt of such notice, each Revolving Lender shall pay to the Administrative Agent its Applicable Percentage of the
payment then due from the Borrower, in the same manner as provided in Section 2.07 with respect to Loans made by such Lender (and Section 2.07 shall apply, mutatis mutandis, to the payment obligations of the Revolving
Lenders), and the Administrative Agent shall promptly pay to the applicable Issuing Bank the amounts so received by it from the Revolving Lenders. Promptly following receipt by the Administrative Agent of any payment from the Borrower pursuant to
this paragraph, the Administrative Agent 

  

 44 

 
shall distribute such payment to the applicable Issuing Bank or, to the extent that Revolving Lenders have made payments pursuant to this paragraph to
reimburse the applicable Issuing Bank, then to such Lenders and such Issuing Bank as their interests may appear. Any payment made by a Revolving Lender pursuant to this paragraph to reimburse the applicable Issuing Bank for any LC Disbursement
(other than the funding of ABR Revolving Loans or a Swingline Loan as contemplated above) shall not constitute a Loan and shall not relieve the Borrower of its obligation to reimburse such LC Disbursement. 
  
 (f) Obligations Absolute. The Borrower’s obligation to reimburse
LC Disbursements as provided in paragraph (e) of this Section shall be absolute, unconditional and irrevocable, and shall be performed strictly in accordance with the terms of this Agreement under any and all circumstances whatsoever and
irrespective of (i) any lack of validity or enforceability of any Letter of Credit or this Agreement, or any term or provision therein, (ii) any draft or other document presented under a Letter of Credit proving to be forged, fraudulent or
invalid in any respect or any statement therein being untrue or inaccurate in any respect, (iii) payment by the applicable Issuing Bank under a Letter of Credit against presentation of a draft or other document that does not comply with the
terms of such Letter of Credit, or (iv) any other event or circumstance whatsoever, whether or not similar to any of the foregoing, that might, but for the provisions of this Section, constitute a legal or equitable discharge of, or provide a
right of setoff against, the Borrower’s obligations hereunder. Neither the Administrative Agent, the Lenders nor the applicable Issuing Bank, nor any of their Related Parties, shall have any liability or responsibility by reason of or in
connection with the issuance or transfer of any Letter of Credit or any payment or failure to make any payment thereunder (irrespective of any of the circumstances referred to in the preceding sentence), or any error, omission, interruption, loss or
delay in transmission or delivery of any draft, notice or other communication under or relating to any Letter of Credit (including any document required to make a drawing thereunder), any error in interpretation of technical terms or any consequence
arising from causes beyond the control of such Issuing Bank; provided that the foregoing shall not be construed to excuse such Issuing Bank from liability to the Borrower to the extent of any direct damages (as opposed to consequential
damages, claims in respect of which are hereby waived by the Borrower to the extent permitted by applicable law) suffered by the Borrower that are caused by such Issuing Bank’s failure to exercise care when determining whether drafts and other
documents presented under a Letter of Credit comply with the terms thereof. The parties hereto expressly agree that, in the absence of gross negligence, bad faith or willful misconduct on the part of the applicable Issuing Bank (as finally
determined by a court of competent jurisdiction), such Issuing Bank shall be deemed to have exercised care in each such determination. In furtherance of the foregoing and without limiting the generality thereof, the parties agree that, with respect
to documents presented which appear on their face to be in substantial compliance with the terms of a Letter of Credit, such Issuing Bank may, in its sole discretion, either accept and make payment upon such documents without responsibility for
further investigation, regardless of any notice or information to the contrary, or refuse to accept and make payment upon such documents if such documents are not in strict compliance with the terms of such Letter of Credit. 
  

 45 

 (g) Disbursement Procedures. The applicable Issuing Bank shall, promptly following its receipt
thereof, examine all documents purporting to represent a demand for payment under a Letter of Credit. The applicable Issuing Bank shall promptly notify the Administrative Agent and the Borrower by telephone (confirmed by telecopy) of such demand for
payment and whether such Issuing Bank has made or will make an LC Disbursement thereunder; provided that any failure to give or delay in giving such notice shall not relieve the Borrower of its obligation to reimburse such Issuing Bank and
the Revolving Lenders with respect to any such LC Disbursement. 
  
 (h) Interim Interest. If the applicable Issuing Bank shall make any LC Disbursement, then, unless the Borrower shall reimburse such LC Disbursement in full on the date such LC Disbursement is made (including with the proceeds of an
ABR Revolving Borrowing or a Swingline Borrowing requested in accordance with paragraph (e) of this Section), the unpaid amount thereof shall bear interest, for each day from and including the date such LC Disbursement is made to but excluding
the date that the Borrower reimburses such LC Disbursement at the rate per annum then applicable to ABR Revolving Loans; provided that, if the Borrower fails to reimburse such LC Disbursement when due pursuant to paragraph (e) of this
Section, then Section 2.14(d) shall apply. Interest accrued pursuant to this paragraph shall be for the account of the applicable Issuing Bank, except that interest accrued on and after the date of payment by any Revolving Lender pursuant to
paragraph (e) of this Section to reimburse such Issuing Bank shall be for the account of such Lender to the extent of such payment. 
  
 (i) Addition and Replacement of Issuing Banks. An Issuing Bank may be replaced at any time by written agreement among the Borrower, the replaced
Issuing Bank and the successor Issuing Bank, and acknowledged by the Administrative Agent. The Administrative Agent shall notify the Lenders of any such replacement of an Issuing Bank. At the time any such replacement shall become effective, the
Borrower shall pay all unpaid fees accrued for the account of the replaced Issuing Bank pursuant to Section 2.13(b). From and after the effective date of any such replacement, (i) the successor Issuing Bank shall have all the rights and
obligations of the applicable Issuing Bank under this Agreement with respect to the Letters of Credit to be issued thereafter and (ii) references herein to the term “Issuing Bank” shall be deemed to refer to such successor or to any
previous Issuing Bank, or to such successor and all previous Issuing Banks, as the context shall require. After the replacement of an Issuing Bank hereunder, the replaced Issuing Bank shall remain a party hereto and shall continue to have all the
rights and obligations of an Issuing Bank under this Agreement with respect to Letters of Credit issued by it prior to such replacement, but shall not be required to issue additional Letters of Credit. A Revolving Lender may become an additional
Issuing Bank hereunder if designated by the Borrower pursuant to a written agreement among the Borrower and such Revolving Lender, and acknowledged by the Administrative Agent. The Administrative Agent shall notify the Revolving Lenders of any such
additional Issuing Bank. Notwithstanding the foregoing, the Borrower shall not designate any Revolving Lender as an Issuing Bank hereunder if, after giving effect thereto, there would be more than five Issuing Banks. 
  

 46 

 (j) Cash Collateralization. If any Event of Default described in clauses (a), (b), (h) or
(i) of Article VII shall occur and be continuing, on the Business Day that the Borrower receives notice from the Administrative Agent that the Required Lenders have (or, if the maturity of the Loans has been accelerated, the Revolving Lenders
with LC Exposure representing greater than 50% of the total LC Exposure) demanded the deposit of cash collateral pursuant to this paragraph, the Borrower shall deposit in an account with the Administrative Agent, in the name of the Administrative
Agent and for the benefit of the Lenders, an amount in cash equal to the total LC Exposure as of such date plus any accrued and unpaid interest thereon; provided that the obligation to deposit such cash collateral shall become effective
immediately, and such deposit shall become immediately due and payable, without demand or other notice of any kind, upon the occurrence of any Event of Default with respect to the Borrower described in clause (h) or (i) of
Article VII. Each such deposit shall be held by the Administrative Agent as collateral for the payment and performance of the obligations of the Borrower under this Agreement. The Administrative Agent shall have exclusive dominion and control,
including the exclusive right of withdrawal, over such account. Other than any interest earned on the investment of such deposits in Permitted Investments, which investments shall be made at the option and sole discretion of the Administrative Agent
and at the Borrower’s risk and expense, such deposits shall not bear interest. Interest or profits, if any, on such investments shall accumulate in such account. Moneys in such account shall be applied by the Administrative Agent to reimburse
the Issuing Banks for LC Disbursements for which they have not been reimbursed and, to the extent not so applied, shall be held for the satisfaction of the reimbursement obligations of the Borrower in respect of the LC Exposure at such time or, if
the maturity of the Loans has been accelerated (but subject to the consent of Revolving Lenders with LC Exposure representing greater than 50% of the total LC Exposure), be applied to satisfy other obligations of the Borrower under this Agreement.
If the Borrower is required to provide an amount of cash collateral hereunder as a result of the occurrence of an Event of Default described above, such amount (to the extent not applied as aforesaid) shall be returned to the Borrower within two
Business Days after all such Events of Default have been cured or waived or the Obligations have been paid in full and the Letters of Credit have terminated or expired and all Commitments have terminated or expired. 
  
 SECTION 2.07. Funding of Borrowings. (a) Each Lender shall make
each Loan to be made by it hereunder on the proposed date thereof by wire transfer of immediately available funds by 12:00 noon, New York City time, to the account of the Administrative Agent most recently designated by it for such purpose by notice
to the Lenders; provided that Swingline Loans shall be made as provided in Section 2.05. The Administrative Agent will make such Loans available to the Borrower by promptly crediting or transferring the amounts so received, in like
funds, to an account of the Borrower maintained with the Administrative Agent in New York City or any other domestic bank deposit account of the Borrower, in each case as designated by the Borrower in the applicable Borrowing Request;
provided that ABR Revolving Loans made to finance the reimbursement of an LC Disbursement as provided in Section 2.06(e) shall be remitted by the Administrative Agent to the applicable Issuing Bank. 
  

 47 

 (b) Unless the Administrative Agent shall have received notice from a Lender prior to the proposed date
of any Borrowing that such Lender will not make available to the Administrative Agent such Lender’s share of such Borrowing, the Administrative Agent may assume that such Lender has made such share available on such date in accordance with
paragraph (a) of this Section and may, in reliance upon such assumption, make available to the Borrower a corresponding amount. In such event, if a Lender has not in fact made its share of the applicable Borrowing available to the
Administrative Agent, then the applicable Lender and the Borrower severally agree to pay to the Administrative Agent forthwith on demand such corresponding amount with interest thereon, for each day from and including the date such amount is made
available to the Borrower to but excluding the date of payment to the Administrative Agent, at (i) in the case of such Lender, the greater of the Federal Funds Effective Rate and a rate determined by the Administrative Agent in accordance with
banking industry rules on interbank compensation or (ii) in the case of the Borrower, the interest rate applicable to ABR Loans. If such Lender pays such amount to the Administrative Agent, then such amount shall constitute such Lender’s
Loan included in such Borrowing. 
  
 SECTION 2.08. Interest
Elections. (a) Each Revolving Borrowing and Term Borrowing initially shall be of the Type specified in the applicable Borrowing Request and, in the case of a Eurodollar Borrowing, shall have an initial Interest Period as specified in such
Borrowing Request. Thereafter, the Borrower may elect to convert such Borrowing to a different Type or to continue such Borrowing and, in the case of a Eurodollar Borrowing, may elect Interest Periods therefor, all as provided in this Section. The
Borrower may elect different options with respect to different portions of the affected Borrowing, in which case each such portion shall be allocated ratably among the Lenders holding the Loans comprising such Borrowing, and the Loans comprising
each such portion shall be considered a separate Borrowing. This Section shall not apply to Competitive Loans or Swingline Borrowings, which may not be converted or continued. 
  
 (b) To make an election pursuant to this Section, the Borrower shall notify the Administrative Agent of such election by
telephone by the time that a Borrowing Request would be required under Section 2.03 if the Borrower were requesting a Revolving Borrowing of the Type resulting from such election to be made on the effective date of such election. Each such
telephonic Interest Election Request shall be irrevocable and shall be confirmed promptly by hand delivery or telecopy to the Administrative Agent of a written Interest Election Request in substantially the form attached hereto as
Exhibit H (or any other form approved by the Administrative Agent) and signed by the Borrower. 
  
 (c) Each telephonic and written Interest Election Request shall specify the following information in compliance with Section 2.02 and paragraph
(e) of this Section: 
  
 (i) the Borrowing
to which such Interest Election Request applies and, if different options are being elected with respect to different portions thereof, the portions thereof to be allocated to each resulting Borrowing (in which case the information to be specified
pursuant to clauses (iii) and (iv) below shall be specified for each resulting Borrowing); 
  

 48 

 (ii) the effective date of the election made pursuant to such Interest Election Request,
which shall be a Business Day; 
  
 (iii) whether
the resulting Borrowing is to be an ABR Borrowing or a Eurodollar Borrowing; and 
  
 (iv) if the resulting Borrowing is a Eurodollar Borrowing, the Interest Period to be applicable thereto after giving effect to such
election, which shall be a period contemplated by the definition of the term “Interest Period”. 
  
 If any such Interest Election Request requests a Eurodollar Borrowing but does not specify an Interest Period, then the Borrower shall be deemed to have selected an Interest Period of one month’s duration.

  
 (d) Promptly following receipt of an Interest Election
Request, the Administrative Agent shall advise each Lender of the details thereof and of such Lender’s portion of each resulting Borrowing. 
  
 (e) If the Borrower fails to deliver a timely Interest Election Request with respect to a Eurodollar Borrowing prior to the end of the Interest Period
applicable thereto, then, unless such Borrowing is repaid as provided herein, at the end of such Interest Period such Borrowing shall be continued as a Eurodollar Borrowing of one month’s duration. Notwithstanding any contrary provision hereof,
if any Event of Default described in clauses (a), (b), (h) or (i) of Article VII shall occur and be continuing and the Administrative Agent, at the request of the Required Lenders, so notifies the Borrower, then, so long as such Event of
Default is continuing (i) no outstanding Borrowing may be converted to or continued as a Eurodollar Borrowing and (ii) unless repaid, each Eurodollar Borrowing shall be converted to an ABR Borrowing at the end of the Interest Period
applicable thereto. 
  
 SECTION 2.09. Termination and Reduction
of Commitments; Reduction of Viacom Reserve Amount. (a) Unless previously terminated, (i) the Tranche A Commitments and Tranche B Commitments shall terminate at 5:00 p.m., New York City time, on the Effective Date and (ii) the
Revolving Commitments shall terminate on the Revolving Maturity Date. 
  

 49 

 (b) The Revolving Commitments shall be automatically and permanently reduced on each date set forth below
in the aggregate principal amount set forth opposite such date: 
  

				
	 Date

	  	Amount of Reduction

	 October 1, 2007
	  	$	25,000,000
	 January 1, 2008
	  	 	25,000,000
	 April 1, 2008
	  	 	25,000,000
	 July 1, 2008
	  	 	25,000,000
	 October 1, 2008
	  	 	25,000,000
	 January 1, 2009
	  	 	25,000,000
	 April 1, 2009
	  	 	25,000,000
	 July 1, 2009
	  	 	25,000,000

  
 (c) Any reduction of
the Revolving Commitments (other than those pursuant to paragraph (b) of this Section) shall be applied to reduce the subsequent scheduled reductions of the Revolving Commitments to be made pursuant to paragraph (b) ratably. The scheduled
reductions in the Revolving Commitments pursuant to paragraph (b) shall not be applied to reduce the then applicable Viacom Reserve Amount. Notwithstanding anything to the contrary contained in this Agreement, the Viacom Reserve Amount may only
be reduced pursuant to paragraph (g) of this Section. 
  
 (d)
Subject to compliance with the provisions of paragraph (e) of this Section, Borrower may at any time terminate, or from time to time reduce, the Revolving Commitments; provided that (i) each reduction of the Revolving Commitments
shall be in an amount that is an integral multiple of $1,000,000 and not less than $5,000,000 and (ii) the Borrower shall not terminate or reduce the Revolving Commitments if, after giving effect to any concurrent prepayment of the Revolving
Loans in accordance with Section 2.12, (x) the sum of the aggregate Revolving Exposures (other than Viacom LC Exposures) plus the aggregate Competitive Loan Exposures would exceed (y) the aggregate Revolving Commitments less the
then-current Viacom Reserve Amount. No such termination or reduction shall be applied to reduce the then applicable Viacom Reserve Amount unless the conditions of paragraph (g) of this Section have been met. 
  
 (e) The Borrower shall notify the Administrative Agent in writing of any
election to terminate or reduce the Revolving Commitment under paragraph (d) of this Section at least one Business Day prior to the effective date of such termination or reduction, specifying such election and the effective date thereof.
Promptly following receipt of any notice, the Administrative Agent shall advise the Lenders of the contents thereof. Each notice delivered by the Borrower pursuant to this Section shall be irrevocable; provided that a notice of termination of
the Revolving Commitments delivered by the Borrower may state that such notice is conditioned upon the effectiveness of other credit facilities, in which case such notice may be revoked by the Borrower (by notice to the Administrative Agent on or
prior to the specified effective 

  

 50 

 
date) if such condition is not satisfied. Any termination or reduction of the Revolving Commitments shall be permanent. Each reduction of the Revolving
Commitments shall be made ratably among the Lenders in accordance with their Revolving Commitments. 
  
 (f) If any prepayment of Term Borrowings is required pursuant to Section 2.12(c) but cannot be made because there are no Term Borrowings outstanding,
or because the amount of the required prepayment exceeds the outstanding amount of Term Borrowings, then, on the date that such prepayment is required, the Revolving Commitments will be reduced by an aggregate amount equal to such excess.

  
 (g) Subject to compliance with the provisions of this
paragraph, the Borrower may, at any time or from time to time, reduce the Viacom Reserve Amount (any such reduction, a “Voluntary Reduction”); provided that (i) each such reduction shall be in an amount that is an
integral multiple of $1,000,000, (ii) evidence that Viacom has consented to such reduction shall be provided in the manner set forth below and (iii) the Viacom Reserve Amount shall not at any time be reduced if, after giving effect to such
reduction (and any concurrent surrender of outstanding Viacom LCs), the aggregate Viacom LC Exposures would exceed the Viacom Reserve Amount. The Borrower shall notify the Administrative Agent in writing of any election to reduce the Viacom Reserve
Amount under this paragraph at least three Business Days prior to the effective date of such reduction, specifying such election and the effective date thereof. Such notice shall be accompanied by a certification of an executive officer of Viacom
stating that Viacom consents to such reduction, making reference to this Agreement and specifying the amount of the approved reduction. No such Voluntary Reduction shall be effective unless such certification by Viacom is provided. Promptly
following receipt of such notice, the Administrative Agent shall advise the Lenders of the contents thereof. Each notice of a voluntary reduction in the Viacom Reserve Amount delivered by the Borrower pursuant to this Section shall be irrevocable.
Whenever and on each occasion that any LC Disbursement is made in respect of any Viacom LC, the Viacom Reserve Amount will automatically be reduced by the amount of such LC Disbursement (an “Automatic Reduction”). The Borrower may
at any time after any Voluntary Reduction or Automatic Reduction increase the Viacom Reserve Amount by an amount not exceeding the aggregate amount of any Automatic Reductions and Voluntary Reductions theretofore made and not reinstated by giving
written notice of such increase to the Administrative Agent, provided that after giving effect to any such increase, (x) the aggregate Revolving Exposures (minus the Viacom LC Exposures) plus the Competitive Loan Exposures will not
exceed (y) the amount of the Revolving Commitments minus the Viacom Reserve Amount. No Automatic Reduction or Voluntary Reduction in the Viacom Reserve Amount shall, of itself, constitute, cause or require a reduction in the amount of the
Revolving Commitments, voluntary reductions to which are covered by the provisions of paragraphs (d) and (e) of this Section. 
  
 SECTION 2.10. Repayment of Loans; Evidence of Debt. (a) The Borrower hereby unconditionally promises to pay (i) to the
Administrative Agent for the account of each Lender the then unpaid principal amount of each Revolving Loan of such Lender on the Revolving Maturity Date, (ii) to the Administrative Agent for the account 

  

 51 

 
of each Lender the then unpaid principal amount of each Term Loan of such Lender as provided in Section 2.11, (iii) to the Administrative Agent for
the account of a Lender that has made a Competitive Loan the unpaid principal amount of such Competitive Loan on the last day of the Interest Period applicable to such Loan and (iv) to the Swingline Lender the then unpaid principal amount of
each Swingline Loan on the earlier of the Revolving Maturity Date and the first date after such Swingline Loan is made that is the 15th or last day of a calendar month and is at least two Business Days after such Swingline Loan is made;
provided that on each date that a Revolving Borrowing or a Competitive Loan is made, the Borrower shall repay all Swingline Loans that were outstanding on the date such Borrowing was requested. 
  
 (b) Each Lender shall maintain in accordance with its usual practice an
account or accounts evidencing the indebtedness of the Borrower to such Lender resulting from each Loan made by such Lender, including the amounts of principal and interest payable and paid to such Lender from time to time hereunder. 
  
 (c) The Administrative Agent shall maintain accounts in which it shall record
(i) the amount of each Loan made hereunder, the Class and Type thereof and the Interest Period applicable thereto, (ii) the amount of any principal or interest due and payable or to become due and payable from the Borrower to each Lender
hereunder and (iii) the amount of any sum received by the Administrative Agent hereunder for the account of the Lenders and each Lender’s share thereof. 
  
 (d) The entries made in the accounts maintained pursuant to paragraph (b) or (c) of this Section shall be
prima facie evidence of the existence and amounts of the obligations recorded therein; provided that the failure of any Lender or the Administrative Agent to maintain such accounts or any error therein shall not in any manner
affect the obligation of the Borrower to repay the Loans in accordance with the terms of this Agreement. 
  
 (e) Any Lender may request that Loans of any Class made by it be evidenced by a promissory note. In such event, the Borrower shall prepare, execute and
deliver to such Lender a promissory note payable to the order of such Lender (or, if requested by such Lender, to such Lender and its registered assigns) and in a form approved by the Administrative Agent and the Borrower. Thereafter, the Loans
evidenced by such promissory note and interest thereon shall at all times (including after assignment pursuant to Section 9.04) be represented by one or more promissory notes in such form payable to the order of the payee named therein (or, if
such promissory note is a registered note, to such payee and its registered assigns). 
  

 52 

 SECTION 2.11. Amortization of Term Loans. (a) Subject to adjustment pursuant to paragraph
(d) of this Section, the Borrower shall repay Tranche A Term Borrowings on each date set forth below in the aggregate principal amount set forth opposite such date: 
  

				
	 Date

	  	Amount

	 October 1, 2005
	  	$	3,750,000
	 January 1, 2006
	  	 	3,750,000
	 April 1, 2006
	  	 	3,750,000
	 July 1, 2006
	  	 	3,750,000
	 October 1, 2006
	  	 	3,750,000
	 January 1, 2007
	  	 	3,750,000
	 April 1, 2007
	  	 	3,750,000
	 July 1, 2007
	  	 	3,750,000
	 October 1, 2007
	  	 	3,750,000
	 January 1, 2008
	  	 	3,750,000
	 April 1, 2008
	  	 	3,750,000
	 July 1, 2008
	  	 	3,750,000
	 October 1, 2008
	  	 	13,750,000
	 January 1, 2009
	  	 	13,750,000
	 April 1, 2009
	  	 	13,750,000
	 August 20, 2009
	  	 	13,750,000

  
 (b) Subject to
adjustment pursuant to paragraph (d) of this Section, the Borrower shall repay Tranche B Term Borrowings on each date set forth below in the aggregate principal amount set forth opposite such date: 
  

				
	 Date

	  	Amount

	 October 1, 2005
	  	$	1,375,000
	 January 1, 2006
	  	 	1,375,000
	 April 1, 2006
	  	 	1,375,000
	 July 1, 2006
	  	 	1,375,000
	 October 1, 2006
	  	 	1,375,000
	 January 1, 2007
	  	 	1,375,000
	 April 1, 2007
	  	 	1,375,000
	 July 1, 2007
	  	 	1,375,000
	 October 1, 2007
	  	 	1,375,000
	 January 1, 2008
	  	 	1,375,000
	 April 1, 2008
	  	 	1,375,000
	 July 1, 2008
	  	 	1,375,000
	 October 1, 2008
	  	 	13,750,000
	 January 1, 2009
	  	 	13,750,000
	 April 1, 2009
	  	 	13,750,000
	 July 1, 2009
	  	 	13,750,000
	 October 1, 2009
	  	 	13,750,000
	 January 1, 2010
	  	 	13,750,000
	 April 1, 2010
	  	 	13,750,000
	 July 1, 2010
	  	 	13,750,000
	 October 1, 2010
	  	 	105,875,000
	 January 1, 2011
	  	 	105,875,000
	 April 1, 2011
	  	 	105,875,000
	 August 20, 2011
	  	 	105,875,000

  

 53 

 (c) To the extent not previously paid, all Tranche A Term Loans shall be due and payable on the
Tranche A Maturity Date, and all Tranche B Term Loans shall be due and payable on the Tranche B Maturity Date. 
  
 (d) Any prepayment of a Term Borrowing of either Class, including any mandatory prepayments pursuant to Section 2.12, shall be applied to reduce
ratably the subsequent scheduled repayments of the Term Borrowings of such Class to be made pursuant to this Section. 
  
 (e) Prior to any repayment of any Term Borrowings of either Class hereunder, the Borrower shall select the Borrowing or Borrowings of the applicable Class
to be repaid and shall notify the Administrative Agent by telephone (confirmed by telecopy) of such selection not later than (i) 11:00 a.m., New York City time, three Business Days before the scheduled date of such repayment, in the case of a
Eurodollar Borrowing and (ii) 11:00 a.m., New York City time on the scheduled date of such repayment, in the case of an ABR Borrowing. Each repayment of a Borrowing shall be applied ratably to the Loans included in the repaid Borrowing.
Repayments of Term Borrowings shall be accompanied by accrued interest on the amount repaid. 
  
 SECTION 2.12. Prepayment of Loans. (a) The Borrower shall have the right at any time and from time to time to prepay any Borrowing in whole or in part in an integral multiple of $1,000,000 and in an amount
not less than $5,000,000, subject to the requirements of this Section; provided that, without the prior consent of the Lender thereof, the Borrower shall not have a right to prepay any Competitive Loan which the Borrower indicated was not
prepayable in the related Competitive Bid Request. 
  
 (b) In the
event and on each occasion that (x) the sum of the aggregate Revolving Exposures (minus the Viacom LC Exposures) plus the aggregate Competitive Loan Exposures exceeds (y) the total Revolving Commitments minus the Viacom Reserve Amount, the
Borrower shall prepay Revolving Borrowings or Swingline Borrowings (or, if no such Borrowings are outstanding, deposit cash collateral in an account with the Administrative Agent pursuant to Section 2.06(j)) in an aggregate amount equal to such
excess. In the event and on each occasion that the aggregate Viacom LC Exposures exceed the Viacom Reserve Amount, the Borrower shall deposit cash collateral in an account with the Administrative Agent pursuant to Section 2.06(j) in an
aggregate amount equal to such excess. 
  
 (c) In the event and on
each occasion that any Net Proceeds are received by or on behalf of the Borrower or any Subsidiary in respect of any Prepayment Event, the Borrower shall, within ten Business Days after such Net Proceeds are received, prepay Term Borrowings and,
after the Term Borrowings have been repaid in full, prepay 

  

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Revolving Borrowings and permanently reduce the Revolving Commitments, in an aggregate amount equal to 75% of such Net Proceeds; provided that, if the
Borrower shall deliver to the Administrative Agent a certificate of a Financial Officer to the effect that the Borrower and the Subsidiaries intend to apply the Net Proceeds from such event (or a portion thereof specified in such certificate),
within 180 days after receipt of such Net Proceeds, to construct or acquire assets all or substantially all of which consist of Stores and related equipment and inventory, or acquire all or substantially all the Equity Interests in a Person all
or substantially all of whose assets are Stores and related equipment and inventory, and certifying that no Default has occurred and is continuing, then no prepayment shall be required pursuant to this paragraph in respect of the Net Proceeds in
respect of such event (or the portion of such Net Proceeds specified in such certificate, if applicable) except to the extent of any such Net Proceeds therefrom that have not been so applied by the end of such 180-day period, at which time a
prepayment shall be required in an amount equal to 75% of such Net Proceeds from such event that have not been so applied; and provided further, however, that the aggregate amount of Net Proceeds from all such events which the
Borrower elects to reinvest shall not exceed $10,000,000 (and the Borrower shall not be entitled to deliver certificates pursuant to the preceding proviso from and after the time that the amount of Net Proceeds the Borrower elected to reinvest
equals or exceeds such amount). 
  
 (d) Following the end of each
fiscal year of the Borrower, commencing with the fiscal year ending December 31, 2005, the Borrower will prepay Term Borrowings in an aggregate amount equal to 50% of Excess Cash Flow, if any, for such fiscal year. Each prepayment pursuant to
this paragraph shall be made on or before the date on which financial statements are required to be delivered pursuant to Section 5.01 with respect to the fiscal year for which Excess Cash Flow is being calculated (and in any event within
90 days after the end of such fiscal year). 
  
 (e) If, on
any date, the Available Cash (other than any amounts that will be applied to the repayment of Borrowings within the next 10 Business Days pursuant to Section 2.12(c)) exceeds $75,000,000, the Borrower will provide notice to the Administrative
Agent on such date and within one Business Day of such date repay Revolving Loans and Swingline Loans in an amount equal to such excess (or if less, in the amount of all outstanding Revolving Loans and Swingline Loans). 
  
 (f) Prior to any optional or mandatory prepayment of Borrowings hereunder,
the Borrower shall select the Borrowing or Borrowings to be prepaid and shall specify such selection in the notice of such prepayment pursuant to paragraph (g) of this Section. In the event of any mandatory prepayment of Term Borrowings made
pursuant to Section 2.12(c) or (d) at a time when Term Borrowings of both Classes remain outstanding, the Borrower shall select Term Borrowings to be prepaid so that the aggregate amount of such prepayment is allocated between the Tranche
A Term Borrowings and Tranche B Term Borrowings pro rata based on the aggregate principal amount of outstanding Borrowings of each such Class. 
  

 55 

 (g) Except for prepayments made pursuant to Section 2.12(e), the Borrower shall notify the
Administrative Agent (and, in the case of prepayment of a Swingline Loan, the Swingline Lender) by telephone (confirmed by telecopy) of any prepayment hereunder (i) in the case of prepayment of a Eurodollar Borrowing, not later than 11:00 a.m.,
New York City time, three Business Days before the date of prepayment, (ii) in the case of prepayment of an ABR Borrowing, not later than 11:00 a.m., New York City time, on the date of prepayment or (iii) in the case of prepayment of a
Swingline Loan, not later than 12:00 noon, New York City time, on the date of prepayment. Each such notice shall be irrevocable and shall specify the prepayment date, the principal amount of each Borrowing or portion thereof to be prepaid and, in
the case of a mandatory prepayment, a reasonably detailed calculation of the amount of such prepayment; provided that, if a notice of optional prepayment is given in connection with a conditional notice of termination of the Revolving
Commitments as contemplated by Section 2.09, then such notice of prepayment may be revoked if such notice of termination is revoked in accordance with Section 2.09. Promptly following receipt of any such notice (other than a notice
relating solely to Swingline Loans), the Administrative Agent shall advise the Lenders of the contents thereof. Each partial prepayment of any Borrowing shall be in an amount that would be permitted in the case of an advance of a Borrowing of the
same Type as provided in Section 2.02, except as necessary to apply fully the required amount of a mandatory prepayment. Each prepayment of a Borrowing shall be applied ratably to the Loans included in the prepaid Borrowing. Prepayments shall
be accompanied by accrued interest unpaid to the extent required by Section 2.14. 
  
 SECTION 2.13. Fees. (a) The Borrower agrees to pay to the Administrative Agent for the account of each Revolving Lender a commitment fee, which shall accrue at the Commitment Fee Rate on the average daily
unused amount of the Revolving Commitment of such Lender during the period from and including the Effective Date to but excluding the date on which such Commitment terminates. Accrued commitment fees shall be payable in arrears on the last day of
March, June, September and December of each year and on the date on which the Revolving Commitments terminate, commencing on the first such date to occur after the Effective Date. All commitment fees shall be computed on the basis of a year of 360
days and shall be payable for the actual number of days elapsed (including the first day but excluding the last day). For purposes of computing commitment fees with respect to Revolving Commitments, a Revolving Commitment of a Lender shall be deemed
to be used to the extent of the outstanding Revolving Loans and the LC Exposure of such Lender (and the Swingline Exposure of such Lender shall be disregarded for such purpose). 
  
 (b) The Borrower agrees to pay (i) to the Administrative Agent for the account of each Revolving Lender a participation
fee with respect to its participations in Letters of Credit, which shall accrue at the same Applicable Margin then in effect with respect thereto as interest on Eurodollar Revolving Loans on the daily amount of such Lender’s LC Exposure
(excluding any portion thereof attributable to unreimbursed LC Disbursements) during the period from and including the Effective Date to but excluding 

  

 56 

 
the later of the date on which such Lender’s Revolving Commitment terminates and the date on which such Lender ceases to have any LC Exposure and
(ii) to the applicable Issuing Bank a fronting fee, which shall accrue at the rate of .125% per annum on the outstanding amount of Letters of Credit issued by such Issuing Bank during the period from and including the Effective Date to but
excluding the later of the date of termination of the Revolving Commitments and the date on which there ceases to be any outstanding Letters of Credit issued by such Issuing Bank, as well as the applicable Issuing Bank’s standard and customary
fees with respect to the issuance (other than in respect of Existing Letters of Credit), amendment, renewal or extension of any Letter of Credit or processing of drawings thereunder. Participation fees and fronting fees accrued through and including
the last day of March, June, September and December of each year shall be payable on the third Business Day following such last day, commencing on the first such date to occur after the Effective Date; provided that all such fees shall be
payable on the date on which the Revolving Commitments terminate and any such fees accruing after the date on which the Revolving Commitments terminate shall be payable on written demand. Any other fees payable to the applicable Issuing Bank
pursuant to this paragraph shall be payable within 10 days after written demand. All participation fees and fronting fees shall be computed on the basis of a year of 360 days and shall be payable for the actual number of days elapsed (including the
first day but excluding the last day). 
  
 (c) All voluntary
prepayments of Tranche B Term Loans effected on or prior to the first anniversary of the Effective Date with the proceeds of a substantially concurrent issuance or incurrence of Indebtedness (including any replacement or incremental term loan
facility effected pursuant to an amendment of this Agreement) in connection with a repricing or refinancing of all or any portion of the Tranche B Term Loans will be accompanied by a prepayment fee equal to 1.0% of the aggregate principal
amount of any such prepayment, which fee shall be paid by the Borrower to the Administrative Agent, for the accounts of the Tranche B Lenders, on the date of such prepayment. 
  
 (d) The Borrower agrees to pay to the Administrative Agent, for its own account, fees payable in the amounts and at the
times separately agreed upon in writing between the Borrower and the Administrative Agent. 
  
 (e) All fees payable hereunder shall be paid on the dates due, in immediately available funds, to the Administrative Agent (or to the Issuing Bank, in the case of fees payable to it) for distribution, in the case of
commitment fees, participation fees and prepayment fees, to the Lenders entitled thereto. Fees paid shall not be refundable under any circumstances. 
  
 SECTION 2.14. Interest. (a) The Loans comprising each ABR Borrowing (including each Swingline Loan) shall bear interest at the Alternate
Base Rate plus the Applicable Margin. 
  

 57 

 (b) The Loans comprising each Eurodollar Borrowing shall bear interest (i) in the case of a
Eurodollar Revolving Borrowing or a Eurodollar Term Borrowing, at the Adjusted LIBO Rate for the Interest Period in effect for such Borrowing plus the Applicable Margin and (ii) in the case of a Eurodollar Competitive Borrowing, at the LIBO
Rate for the Interest Period in effect for such Borrowing plus (or minus, as applicable) the Margin applicable to such Borrowing. 
  
 (c) Each Fixed Rate Loan shall bear interest at the Fixed Rate applicable to such Fixed Rate Loan. 
  
 (d) Notwithstanding the foregoing, if any principal of or interest on any
Loan or any fee or other amount payable by the Borrower hereunder is not paid when due, whether at stated maturity, upon acceleration or otherwise, such overdue amount shall bear interest, after as well as before judgment, at a rate per annum equal
to (i) in the case of overdue principal of any Loan, 2% plus the rate otherwise applicable to such Loan as provided in the preceding paragraphs of this Section or (ii) in the case of any other amount, 2% plus the rate applicable to ABR
Revolving Loans as provided in paragraph (a) of this Section, from the date overdue until such amount is paid. 
  
 (e) Accrued interest on each Loan shall be payable in arrears on each Interest Payment Date for such Loan and, in the case of Revolving Loans, upon
termination of the Revolving Commitments; provided that (i) interest accrued pursuant to paragraph (d) of this Section shall be payable on written demand, (ii) in the event of any repayment or prepayment of any Loan (other than
a prepayment of an ABR Revolving Loan prior to the end of the Revolving Availability Period), accrued interest on the principal amount repaid or prepaid shall be payable on the date of such repayment or prepayment and (iii) in the event of any
conversion of any Eurodollar Loan prior to the end of the current Interest Period therefor, accrued interest on such Loan shall be payable on the effective date of such conversion. 
  
 (f) All interest hereunder shall be computed on the basis of a year of 360 days, except that interest computed by reference
to the Alternate Base Rate at times when the Alternate Base Rate is based on the Prime Rate shall be computed on the basis of a year of 365 days (or 366 days in a leap year), and in each case shall be payable for the actual number of days elapsed
(including the first day but excluding the last day). The applicable Alternate Base Rate, Adjusted LIBO Rate or LIBO Rate shall be determined by the Administrative Agent, and such determination shall be conclusive absent manifest error. 

 
 SECTION 2.15. Alternate Rate of Interest. If prior to the
commencement of any Interest Period for a Eurodollar Borrowing: 
  
 (i) the Administrative Agent determines (which determination shall be conclusive absent manifest error) that adequate and reasonable means do not exist for ascertaining the Adjusted LIBO Rate or LIBO Rate for such
Interest Period; or 
  

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 (ii) the Administrative Agent is advised by the Required Lenders (or, in the case of a
Eurodollar Competitive Loan, the Lender that is required to make such a Eurodollar Competitive Loan) that the Adjusted LIBO Rate or LIBO Rate for such Interest Period will not adequately and fairly reflect the cost to such Lenders of making or
maintaining their Loans included in such Borrowing for such Interest Period; 
  
 then the Administrative Agent shall give notice thereof to the Borrower and the Lenders by telephone or telecopy as promptly as practicable thereafter and, until the Administrative Agent notifies the Borrower and the Lenders that the
circumstances giving rise to such notice no longer exist, (i) any Interest Election Request that requests the conversion of any Borrowing to, or continuation of any Borrowing as, a Eurodollar Borrowing shall be ineffective and (ii) if any
Borrowing Request requests a Eurodollar Borrowing, such Borrowing shall be made as an ABR Borrowing. 
  
 SECTION 2.16. Increased Costs. (a) If any Change in Law shall: 
  
 (i) impose, modify or deem applicable any reserve, special deposit or similar requirement against assets of,
deposits with or for the account of, or credit extended by, any Lender (except any such reserve requirement reflected in the Adjusted LIBO Rate) or an Issuing Bank; or 
  
 (ii) impose on any Lender or an Issuing Bank or the London interbank market any other condition affecting
this Agreement or Eurodollar Loans or Fixed Rate Loans made by such Lender or any Letter of Credit or participation therein; 
  
 and the result of any of the foregoing shall be to increase the cost to such Lender of making or maintaining any Eurodollar Loan or Fixed Rate Loan (or of maintaining its
obligation to make any such Loan) or to increase the cost to such Lender or the applicable Issuing Bank of participating in, issuing or maintaining any Letter of Credit or to reduce the amount of any sum received or receivable by such Lender or the
applicable Issuing Bank hereunder (whether of principal, interest or otherwise), then the Borrower will pay to such Lender or the applicable Issuing Bank, as the case may be, such additional amount or amounts as will compensate such Lender or such
Issuing Bank, as the case may be, for such additional costs incurred or reduction suffered. 
  
 (b) If any Lender or an Issuing Bank determines that any Change in Law regarding capital requirements has or would have the effect of reducing the rate of return on such Lender’s or such Issuing Bank’s
capital or on the capital of such Lender’s or such Issuing Bank’s holding company, if any, as a consequence of this Agreement or the Loans made by, or participations in Letters of Credit held by, such Lender, or the Letters of Credit
issued by such Issuing Bank, to a level below that which such Lender or such Issuing Bank or such Lender’s or such Issuing Bank’s holding company could have achieved but for such Change in Law (taking into consideration such Lender’s
or such Issuing Bank’s policies and the policies of such Lender’s or such Issuing Bank’s holding 

  

 59 

 
company with respect to capital adequacy), then from time to time the Borrower will pay to such Lender or such Issuing Bank, as the case may be, such
additional amount or amounts as will compensate such Lender or such Issuing Bank or such Lender’s or such Issuing Bank’s holding company for any such reduction suffered. 
  
 (c) A certificate of a Lender or an Issuing Bank setting forth (i) the amount or amounts necessary to compensate such
Lender or such Issuing Bank or its holding company, as the case may be, as specified in paragraph (a) or (b) of this Section and (ii) that is such Lender’s or Issuing Bank’s customary practice, from and after the date of
such certificate, to charge its borrowers for such increased costs incurred by such Lender or such Issuing Bank, as the case may be, shall be delivered to the Borrower and shall be conclusive absent manifest error. The Borrower shall pay such Lender
or such Issuing Bank, as the case may be, the amount shown as due on any such certificate within 10 days after receipt thereof. 
  
 (d) Failure or delay on the part of any Lender or an Issuing Bank to demand compensation pursuant to this Section shall not constitute a waiver of such
Lender’s or such Issuing Bank’s right to demand such compensation; provided that the Borrower shall not be required to compensate a Lender or an Issuing Bank pursuant to this Section for any increased costs or reductions incurred
more than 30 days prior to the date that such Lender or such Issuing Bank, as the case may be, notifies the Borrower of the Change in Law giving rise to such increased costs or reductions and of such Lender’s or such Issuing Bank’s
intention to claim compensation therefor. 
  
 (e) Notwithstanding
the foregoing provisions of this Section, a Lender shall not be entitled to compensation pursuant to this Section in respect of any Competitive Loan if the Change in Law that would otherwise entitle it to such compensation shall have been publicly
announced prior to submission of the Competitive Bid pursuant to which such Competitive Loan was made. 
  
 SECTION 2.17. Break Funding Payments. In the event of (a) the payment of any principal of any Eurodollar Loan or Fixed Rate Loan other than on
the last day of an Interest Period applicable thereto (including as a result of an Event of Default), (b) the conversion of any Eurodollar Loan other than on the last day of the Interest Period applicable thereto, (c) the failure to
borrow, convert, continue or prepay any Revolving Loan, Fixed Rate Loan or Term Loan on the date specified in any notice delivered pursuant hereto (regardless of whether such notice may be revoked under Section 2.09 or Section 2.12(g) and
is revoked in accordance therewith), (d) the failure to borrow any Competitive Loan after accepting the Competitive Bid to make such Competitive Loan, or (e) the assignment of any Eurodollar Loan or Fixed Rate Loan other than on the last
day of the Interest Period applicable thereto as a result of a request by the Borrower pursuant to Section 2.20, then, in any such event, the Borrower shall compensate each Lender for the loss, cost and expense attributable to such event. In
the case of a Eurodollar Loan, such loss, cost or expense to any Lender shall be deemed to equal an amount determined by such Lender to be the excess, if any, of (i) the amount of interest which would have accrued on the principal amount of
such Loan had such event 

  

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not occurred, at the Adjusted LIBO Rate, LIBO Rate or Fixed Rate, as the case may be, that would have been applicable to such Loan, for the period from the
date of such event to the last day of the then current Interest Period therefor (or, in the case of a failure to borrow, convert or continue, for the period that would have been the Interest Period for such Loan), over (ii) the amount of
interest which would accrue on such principal amount for such period at the interest rate which such Lender would bid were it to bid, at the commencement of such period, for dollar deposits of a comparable amount and period from other banks in the
eurodollar market. A certificate of any Lender setting forth any amount or amounts that such Lender is entitled to receive pursuant to this Section shall be delivered to the Borrower and shall be conclusive absent manifest error. The Borrower shall
pay such Lender the amount shown as due on any such certificate within 10 days after receipt thereof. 
  
 SECTION 2.18. Taxes. (a) Any and all payments by or on account of any obligation of the Borrower hereunder or under any other Loan Document
shall be made free and clear of and without deduction for any Indemnified Taxes or Other Taxes; provided that if the Borrower shall be required to deduct any Indemnified Taxes or Other Taxes from such payments, then (i) the sum payable
shall be increased as necessary so that after making all required deductions (including deductions applicable to additional sums payable under this Section 2.18) the Administrative Agent, Lender or Issuing Bank (as the case may be) receives an
amount equal to the sum it would have received had no such deductions been made, (ii) the Borrower shall make such deductions and (iii) the Borrower shall pay the full amount deducted to the relevant Governmental Authority in accordance
with applicable law. 
  
 (b) In addition, the Borrower shall pay
any Other Taxes (not already paid pursuant to Section 2.18(a)(iii)) to the relevant Governmental Authority in accordance with applicable law. 
  
 (c) The Borrower shall indemnify the Administrative Agent, each Lender and the applicable Issuing Bank, within 10 days after written demand therefor, for
the full amount of any Indemnified Taxes or Other Taxes paid by the Administrative Agent, such Lender or such Issuing Bank, as the case may be, on or with respect to any payment by or on account of any obligation of the Borrower hereunder or under
any other Loan Document (including Indemnified Taxes or Other Taxes imposed or asserted on or attributable to amounts payable under this Section 2.18) and any penalties, interest and reasonable expenses arising therefrom or with respect
thereto, whether or not such Indemnified Taxes or Other Taxes were correctly or legally imposed or asserted by the relevant Governmental Authority. A certificate as to the amount of such payment or liability delivered to the Borrower by a Lender or
the applicable Issuing Bank, or by the Administrative Agent on its own behalf or on behalf of a Lender or an Issuing Bank, shall be conclusive absent manifest error. Notwithstanding the foregoing, the Borrower shall have no liability pursuant to
this Section 2.18(c) to indemnify the Administrative Agent, a Lender or an Issuing Bank for Indemnified Taxes or Other Taxes that were paid by the Administrative Agent, such Lender or such Issuing Bank more than 90 days prior to written demand
for indemnification. 
  

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 (d) As soon as practicable after any payment of Indemnified Taxes or Other Taxes by the Borrower to a
Governmental Authority, the Borrower shall deliver to the Administrative Agent the original or a certified copy of a receipt, if any, issued by such Governmental Authority evidencing such payment, a copy of the return, if any, reporting such payment
or other evidence of such payment reasonably satisfactory to the Administrative Agent. 
  
 (e) Any Foreign Lender that is entitled to an exemption from or reduction of withholding tax under the law of the jurisdiction in which the Borrower is located, or any treaty to which such jurisdiction is a party,
with respect to payments under this Agreement shall deliver to the Borrower (with a copy to the Administrative Agent), at the time or times prescribed by applicable law, such properly completed and executed documentation prescribed by applicable law
or reasonably requested by the Borrower as will permit such payments to be made without withholding or at a reduced rate of withholding, provided that such Foreign Lender has received written notice from the Borrower advising it of the availability
of such exemption or reduction and supplying all applicable documentation provided by such jurisdiction. 
  
 (f) If the Administrative Agent or a Lender determines, in its sole discretion, that it has received a refund of any Taxes or Other Taxes as to which it
has been indemnified by the Borrower or with respect to which the Borrower has paid additional amounts pursuant to this Section 2.18, it shall pay over such refund to the Borrower (but only to the extent of indemnity payments made, or
additional amounts paid, by the Borrower under this Section 2.18 with respect to the Taxes or Other Taxes giving rise to such refund), net of all reasonable out-of-pocket expenses of the Administrative Agent or such Lender and without interest
(other than any interest paid by the relevant Governmental Authority with respect to such refund); provided, that the Borrower, upon the request of the Administrative Agent or such Lender, agrees to repay the amount paid over to the Borrower (plus
any interest imposed by the relevant Governmental Authority) to the Administrative Agent or such Lender in the event the Administrative Agent or such Lender is required to repay such refund to such Governmental Authority. This Section shall not be
construed to require the Administrative Agent or any Lender to make available its tax returns (or any other information relating to its taxes which it deems confidential) to the Borrower or any other Person. 
  
 (g) Notwithstanding any provision of the Loan Documents to the contrary, this
Section 2.18 shall be the sole provision governing indemnities and claims for Indemnified Taxes and Other Taxes under the Loan Documents. 
  
 SECTION 2.19. Payments Generally; Pro Rata Treatment; Sharing of Set-offs. (a) The Borrower shall make each payment required to be made by it
hereunder or under any other Loan Document (whether of principal, interest, fees or reimbursement of LC Disbursements, or of amounts payable under Section 2.16, 2.17 or 2.18, or otherwise) prior to the time expressly required hereunder or under
such other Loan Document for such payment (or, if no such time is expressly required, prior to 

  

 62 

 
12:00 noon, New York City time), on the date when due, in immediately available funds, without set-off or counterclaim. Any amounts received after such time
on any date may, in the discretion of the Administrative Agent, be deemed to have been received on the next succeeding Business Day for purposes of calculating interest thereon. All such payments shall be made to the Administrative Agent at its
offices at 270 Park Avenue, New York, New York, except payments to be made directly to an Issuing Bank or the Swingline Lender as expressly provided herein and except that payments pursuant to Sections 2.16, 2.17, 2.18 and 9.03 shall be made
directly to the Persons entitled thereto and payments pursuant to other Loan Documents shall be made to the Persons specified therein. The Administrative Agent shall distribute any such payments received by it for the account of any other Person to
the appropriate recipient promptly following receipt thereof. If any payment under any Loan Document shall be due on a day that is not a Business Day, the date for payment shall be extended to the next succeeding Business Day, and, in the case of
any payment accruing interest, interest thereon shall be payable for the period of such extension. All payments under each Loan Document shall be made in dollars. 
  
 (b) If at any time insufficient funds are received by and available to the Administrative Agent to pay fully all amounts of
principal, unreimbursed LC Disbursements, interest and fees then due hereunder, such funds shall be applied (i) first, towards payment of interest and fees then due hereunder, ratably among the parties entitled thereto in accordance with the
amounts of interest and fees then due to such parties, and (ii) second, towards payment of principal and unreimbursed LC Disbursements then due hereunder, ratably among the parties entitled thereto in accordance with the amounts of principal
and unreimbursed LC Disbursements then due to such parties. 
  
 (c) If any Lender shall, by exercising any right of set-off or counterclaim or otherwise, obtain payment in respect of any principal of or interest on any of its Revolving Loans, Term Loans or participations in LC Disbursements or Swingline
Loans resulting in such Lender receiving payment of a greater proportion of the aggregate amount of its Revolving Loans, Term Loans and participations in LC Disbursements and Swingline Loans and accrued interest thereon than the proportion received
by any other Lender, then the Lender receiving such greater proportion shall purchase (for cash at face value) participations in the Revolving Loans, Term Loans and participations in LC Disbursements and Swingline Loans of other Lenders to the
extent necessary so that the benefit of all such payments shall be shared by the Lenders ratably in accordance with the aggregate amount of principal of and accrued interest on their respective Revolving Loans, Term Loans and participations in LC
Disbursements and Swingline Loans; provided that (i) if any such participations are purchased and all or any portion of the payment giving rise thereto is recovered, such participations shall be rescinded and the purchase price restored
to the extent of such recovery, without interest, and (ii) the provisions of this paragraph shall not be construed to apply to any payment made by the Borrower pursuant to and in accordance with the express terms of this Agreement or any
payment obtained by a Lender as consideration for the assignment of or sale of a participation in any of its Loans or participations in LC Disbursements to any assignee or 

  

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participant, other than to the Borrower or any Subsidiary or Affiliate thereof (as to which the provisions of this paragraph shall apply). The Borrower
consents to the foregoing and agrees, to the extent it may effectively do so under applicable law, that any Lender acquiring a participation pursuant to the foregoing arrangements may exercise against the Borrower rights of set-off and counterclaim
with respect to such participation as fully as if such Lender were a direct creditor of the Borrower in the amount of such participation. 
  
 (d) Unless the Administrative Agent shall have received notice from the Borrower prior to the date on which any payment is due to the Administrative Agent
for the account of the Lenders or an Issuing Bank hereunder that the Borrower will not make such payment, the Administrative Agent may assume that the Borrower has made such payment on such date in accordance herewith and may, in reliance upon such
assumption, distribute to the Lenders or the applicable Issuing Bank, as the case may be, the amount due. In such event, if the Borrower has not in fact made such payment, then each of the Lenders or such Issuing Bank, as the case may be, severally
agrees to repay to the Administrative Agent forthwith on demand the amount so distributed to such Lender or Issuing Bank with interest thereon, for each day from and including the date such amount is distributed to it to but excluding the date of
payment to the Administrative Agent, at the greater of the Federal Funds Effective Rate and a rate determined by the Administrative Agent in accordance with banking industry rules on interbank compensation. 
  
 (e) If any Lender shall fail to make any payment required to be made by it
pursuant to Section 2.05(c), 2.06(d) or (e), 2.07(b), 2.19(d) or 9.03(c), then the Administrative Agent may, in its discretion (notwithstanding any contrary provision hereof), apply any amounts thereafter received by the Administrative Agent
for the account of such Lender to satisfy such Lender’s obligations under such Sections until all such unsatisfied obligations are fully paid. 
  
 SECTION 2.20. Mitigation Obligations; Replacement of Lenders. (a) If any Lender requests compensation under Section 2.16, or if the
Borrower is required to pay any additional amount to any Lender or any Governmental Authority for the account of any Lender pursuant to Section 2.18, then such Lender shall use reasonable efforts to designate a different lending office for
funding or booking its Loans hereunder or to assign its rights and obligations hereunder to another of its offices, branches or affiliates, if, in the judgment of such Lender, such designation or assignment (i) would eliminate or reduce amounts
payable pursuant to Section 2.16 or 2.18, as the case may be, in the future and (ii) would not subject such Lender to any unreimbursed cost or expense and would not otherwise be disadvantageous in any material respect to such Lender. The
Borrower hereby agrees to pay all reasonable out-of-pocket costs and expenses incurred by any Lender in connection with any such designation or assignment. 
  
 (b) If any Lender requests compensation under Section 2.16, or if the Borrower is required to pay any additional amount to any Lender or any
Governmental Authority for the account of any Lender pursuant to Section 2.18, or if any Lender defaults in its obligation to fund Loans hereunder, then the Borrower may, at its sole 

  

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expense and effort, upon notice to such Lender and the Administrative Agent, require such Lender to assign and delegate, without recourse (in accordance with
and subject to the restrictions contained in Section 9.04), all its interests, rights and obligations under this Agreement (other than any outstanding Competitive Loans held by it) to an assignee that shall assume such obligations (which
assignee may be another Lender, if a Lender accepts such assignment); provided that (i) the Borrower shall have received the prior written consent of the Administrative Agent (and, if a Revolving Commitment is being assigned, each
Issuing Bank and the Swingline Lender), which consent(s) shall not unreasonably be withheld or delayed, (ii) such Lender shall have received payment of an amount equal to the outstanding principal of its Loans (other than Competitive Loans) and
funded participations in LC Disbursements and Swingline Loans, accrued interest thereon, accrued fees and all other amounts payable to it hereunder, from the assignee (to the extent of such outstanding principal, funded participations and accrued
interest and fees) or the Borrower (in the case of all other amounts) and (iii) in the case of any such assignment resulting from a claim for compensation under Section 2.16 or payments required to be made pursuant to Section 2.18,
such assignment will result in a material reduction in such compensation or payments. A Lender shall not be required to make any such assignment and delegation if, prior thereto, as a result of a waiver by such Lender or otherwise, the circumstances
entitling the Borrower to require such assignment and delegation cease to apply. 
  
 ARTICLE III 
  
 Representations
and Warranties 
  
 The Borrower represents and warrants to the
Lenders that: 
  
 SECTION 3.01. Organization; Powers. The
Borrower and each of the Subsidiaries is duly organized, validly existing and in good standing under the laws of the jurisdiction of its incorporation or organization, as applicable, has all requisite power and authority to carry on its business as
now conducted and, except where the failure to do so, individually or in the aggregate, has not had and would not reasonably be expected to result in a Material Adverse Effect, is qualified to do business in, and is in good standing in, every
jurisdiction where such qualification is required. 
  
 SECTION
3.02. Authorization; Enforceability. The Transactions to be entered into by each Loan Party are within such Loan Party’s corporate or other organizational powers and have been duly authorized by all necessary corporate or other
organizational and, if required, stockholder action. This Agreement has been duly executed and delivered by the Borrower and constitutes, and each other Loan Document to which any Loan Party is to be a party, when executed and delivered by such Loan
Party, will constitute, a legal, valid and binding obligation of the Borrower or such Loan Party (as the case may be), enforceable in accordance with its terms, subject to applicable bankruptcy, insolvency, reorganization, moratorium or other laws
affecting creditors’ rights generally and subject to general principles of equity, regardless of whether considered in a proceeding in equity or at law. 
  

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 SECTION 3.03. Governmental Approvals; No Conflicts. The Transactions (a) do not require any
consent or approval of, registration or filing with, or any other action by, any Governmental Authority, except such as have been (or prior to the Effective Date will be) obtained or made and are in full force and effect and except filings necessary
to perfect Liens created under the Loan Documents, (b) will not violate any applicable law or regulation or order of any Governmental Authority (except where such violation has not resulted, and would not reasonably be expected to result in, a
Material Adverse Effect) or the charter, by-laws or other organizational documents of the Borrower or any of the Subsidiaries, (c) will not violate or result in a default under any indenture or any other material agreement or instrument binding
upon the Borrower or any of the Subsidiaries or its assets, or give rise to a right thereunder to require any payment to be made by the Borrower or any of the Subsidiaries, and (d) will not result in the creation or imposition of any Lien on
any asset of the Borrower or any of the Subsidiaries, except Liens created under the Loan Documents or otherwise permitted under Section 6.02. 
  
 SECTION 3.04. Financial Condition; No Material Adverse Change. (a) The Borrower has heretofore furnished to the Lenders its consolidated
balance sheet and statements of income, stockholders equity and cash flows (i) as of and for the fiscal year ended December 31, 2003, reported on by PricewaterhouseCoopers LLP, independent registered public accounting firm, and
(ii) as of and for the fiscal quarter ended June 30, 2004 and the portion of the fiscal year then ended, certified by its chief financial officer. Such financial statements present fairly, in all material respects, the financial position
and results of operations and cash flows of the Borrower and the consolidated Subsidiaries as of such dates and for such periods in accordance with GAAP, subject to year-end audit adjustments and the absence of footnotes in the case of the
statements referred to in clause (ii) above. 
  
 (b) The
Borrower has heretofore furnished to the Lenders its pro forma consolidated balance sheet as of June 30, 2004, prepared giving effect to the Transactions, the Split-Off and the issuance and sale of the Subordinated Debt as if such events had
occurred on such date. Such pro forma consolidated balance sheet (i) has been prepared in good faith based on the same assumptions used to prepare the pro forma financial statements included in the Offering Memorandum dated August 13, 2004
with respect to the Subordinated Debt (which assumptions are believed by the Borrower to be reasonable), (ii) is based on the best information available to the Borrower after due inquiry, (iii) accurately reflects all adjustments necessary
to give effect to the Transactions, the issuance and sale of the Subordinated Debt and the Split-Off and (iv) presents fairly, in all material respects, the pro forma financial position of the Borrower and the consolidated Subsidiaries as of
June 30, 2004 as if the Transactions, the issuance and sale of the Subordinated Debt and the Split-Off Date had occurred on such date. 
  

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 (c) Except as set forth in the Borrower’s filings with the SEC publicly available after
June 16, 2002 and prior to October 25, 2005 (the “SEC Documents”) or in the projections included in the Information Memorandum, since December 31, 2003, there has been no event, condition or circumstance that has had
or would reasonably be expected to have a Material Adverse Effect. 
  
 SECTION 3.05. Properties. (a) The Borrower and each of the Subsidiaries has good title to, or valid leasehold interests in, all its real and personal property material to its business, except for minor defects in title that do
not interfere with its ability to conduct its business as currently conducted or to utilize such properties for their intended purposes. 
  
 (b) The Borrower and each of the Subsidiaries owns, or is licensed to use, all trademarks, tradenames, copyrights, patents and other intellectual property
material to the business of the Borrower and the Subsidiaries taken as a whole, and to the knowledge of the Borrower, the use thereof by the Borrower and the Subsidiaries does not infringe upon the rights of any other Person, except for any such
infringements that, individually or in the aggregate, has not had and would not reasonably be expected to result in a Material Adverse Effect. 
  
 SECTION 3.06. Litigation and Environmental Matters. (a) Except as set forth in the SEC Documents, there are no actions, suits or proceedings
by or before any arbitrator or Governmental Authority pending against or, to the knowledge of the Borrower, threatened against or affecting the Borrower or any of the Subsidiaries (i) as to which there is a reasonable possibility of an adverse
determination and that, if adversely determined, would reasonably be expected, individually or in the aggregate, to result in a Material Adverse Effect or (ii) that involve any of the Loan Documents or the Transactions. 
  
 (b) Except with respect to matters that, individually or in the aggregate,
have not had and would not reasonably be expected to result in a Material Adverse Effect, neither the Borrower nor any of the Subsidiaries (i) has failed to comply with any Environmental Law or to obtain, maintain or comply with any permit,
license or other approval required under any Environmental Law, (ii) has become subject to any Environmental Liability, (iii) has received written notice of any claim with respect to any Environmental Liability or (iv) knows of any
basis for any Environmental Liability. 
  
 SECTION 3.07.
Compliance with Laws and Agreements. The Borrower and each of the Subsidiaries is in compliance with all laws, regulations and orders of any Governmental Authority applicable to it or its property and all indentures, agreements and other
instruments binding upon it or its property, except where the failure to do so, individually or in the aggregate, has not had and would not reasonably be expected to result in a Material Adverse Effect. 
  
 SECTION 3.08. Investment and Holding Company Status. Neither the
Borrower nor any of the Subsidiaries is (a) an “investment company” as defined in, or 
  

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 subject to regulation under, the Investment Company Act of 1940 or (b) a “holding company” as defined in,
or subject to regulation under, the Public Utility Holding Company Act of 1935. 
  
 SECTION 3.09. Taxes. The Borrower and each of the Subsidiaries has timely filed or caused to be filed all Tax returns and reports required to have been filed and has paid or caused to be paid all Taxes required
to have been paid by it, except (a) any Taxes that are being contested in good faith by appropriate proceedings and for which the Borrower or such Subsidiary, as applicable, has set aside on its books adequate reserves or (b) to the extent
that the failure to do so has not had and would not reasonably be expected to result in a Material Adverse Effect. 
  
 SECTION 3.10. ERISA. No ERISA Event has occurred or is reasonably expected to occur that, when taken together with all other such ERISA Events for
which liability is reasonably expected to occur, would reasonably be expected to result in a Material Adverse Effect. The present value of all accumulated benefit obligations under each Plan (based on the assumptions used for purposes of Statement
of Financial Accounting Standards No. 87) did not, as of the date of the most recent financial statements reflecting such amounts, exceed by more than $25,000,000 the fair market value of the assets of such Plan, and the present value of all
accumulated benefit obligations of all Plans (based on the assumptions used for purposes of Statement of Financial Accounting Standards No. 87) did not, as of the date of the most recent financial statements reflecting such amounts, exceed by
more than $25,000,000 the fair market value of the assets of all such Plans. 
  
 SECTION 3.11. Disclosure. The Borrower has delivered to the Administrative Agent true and correct copies of the Viacom Agreements. Neither the Information Memorandum nor any of the other reports, financial
statements, certificates or other information furnished by or on behalf of any Loan Party to the Administrative Agent or any Lender in connection with the negotiation of this Agreement or any other Loan Document or delivered hereunder or thereunder
(as modified or supplemented by other written information so furnished) contains any material misstatement of fact or omits to state any material fact necessary to make the statements therein, in the light of the circumstances under which they were
made, taken as a whole, not misleading; provided that, with respect to projected financial information, the Borrower represents only that such information was prepared in good faith based upon assumptions believed to be reasonable at the time
when prepared, it being recognized by the Lenders that such projections and other information regarding future events are not to be viewed as facts and that actual results or developments during the period or periods covered may differ from the
delivered projections and other prospective information. 
  
 SECTION 3.12. Subsidiaries. Schedule 3.12 sets forth the name of, and the ownership interest of the Borrower in, each Subsidiary of the Borrower and identifies each Material Subsidiary, each Significant Foreign Subsidiary and
each Foreign Subsidiary, in each case as of the Effective Date. 
  

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 SECTION 3.13. Insurance. Schedule 3.13 sets forth a description of all insurance maintained by or
on behalf of the Borrower and the Subsidiaries as of the Effective Date. As of the Effective Date, all premiums in respect of such insurance have been paid. The Borrower believes that the insurance maintained by or on behalf of the Borrower and the
Subsidiaries is adequate. 
  
 SECTION 3.14. Labor Matters.
As of the Effective Date, there are no material strikes, lockouts or slowdowns against the Borrower or any Subsidiary pending or, to the knowledge of the Borrower, threatened. The consummation of the Transactions and the Split-Off will not give rise
to any right of termination or right of renegotiation on the part of any union under any material collective bargaining agreement to which the Borrower or any Subsidiary is bound. 
  
 SECTION 3.15. Solvency. Immediately after the consummation of the Transactions to occur on the Effective Date and
immediately following the making of each Loan made on the Effective Date and after giving effect to the application of the proceeds of such Loans (including to finance the Special Dividend), (a) the fair value of the assets of the Borrower and
the other Loan Parties on a consolidated basis, at a fair valuation, will exceed its debts and liabilities, subordinated, contingent or otherwise; (b) the present fair saleable value of the property of the Borrower and the other Loan Parties on
a consolidated basis will be greater than the amount that will be required to pay the probable liability of its debts and other liabilities, subordinated, contingent or otherwise, as such debts and other liabilities become absolute and matured;
(c) the Borrower and the other Loan Parties on a consolidated basis will be able to pay its debts and liabilities, subordinated, contingent or otherwise, as such debts and liabilities become absolute and matured; and (d) the Borrower and
the other Loan Parties on a consolidated basis will not have unreasonably small capital with which to conduct the business in which it is engaged as such business is now conducted and is proposed to be conducted following the Effective Date.

  
 SECTION 3.16. Senior Indebtedness. The Obligations
constitute “Senior Indebtedness” under and as defined in the Subordinated Debt Documents. 
  
 SECTION 3.17. Franchises. The Borrower (i) is not in default under any material franchise agreement or material area development agreement
between the Borrower and any of its Franchisees, and (ii) is in compliance with all state and federal franchise laws applicable to the Borrower, except for instances of default or noncompliance that, individually or in the aggregate, have not
had and would not reasonably be expected to result in a Material Adverse Effect. 
  
 SECTION 3.18. Security Interests. (a) When executed and delivered, the Security Documents will be effective to create in favor of the Collateral Agent for the ratable benefit of the Secured Parties (as
defined in the Collateral Agreement) a valid and enforceable security interest in the Collateral and (i) when the Collateral constituting certificated securities (as defined in the Uniform Commercial Code) is delivered to the Collateral Agent
thereunder together with instruments of transfer duly endorsed in blank, 

  

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the security interest of the Collateral Agent therein will constitute a fully perfected Lien on, and security interest in, all right, title and interest of
the pledgors in such Collateral, prior and superior in right to any other Person (it being understood that no representation is made under this clause (i) as to (A) any such Collateral that is subject to a Foreign Pledge Agreement or
(B) the perfection or priority of any Lien to the extent that such perfection or priority is determined under the law of a jurisdiction outside the United States, which are covered by paragraph (b) below), and (ii) (A) when
financing statements in appropriate form are filed in the offices specified in the Perfection Certificate delivered on the Effective Date, the security interest of the Collateral Agent will constitute a fully perfected Lien on and security interest
in all right, title and interest of the Grantors (as defined in the Collateral Agreement) in the remaining Collateral (other than (x) the Mortgaged Properties, (y) the Collateral (as defined in the Security Agreement) created under the
Security Agreement and (z) the Collateral (as defined in the Aircraft Security Agreement) created under the Aircraft Security Agreement) to the extent perfection can be obtained by filing Uniform Commercial Code financing statements, prior and
superior to the rights of any other Person and (B) when financing statements in appropriate form are filed in the offices specified in the Perfection Certificate delivered on the Second Amendment Effective Date, the security interest of the
Collateral Agent will constitute a fully perfected Lien on and security interest in all right, title and interest of the Grantors (as defined in the Security Agreement) in the Collateral (as defined in the Security Agreement) created under the
Security Agreement to the extent perfection can be obtained by filing Uniform Commercial Code financing statements, prior and superior to the rights of any other Person subject only to the Liens permitted by Section 6.02. 
  
 (b) After taking the actions specified for perfection therein, each Foreign
Pledge Agreement, when executed and delivered, will be effective under applicable law to create in favor of the Collateral Agent for the ratable benefit of the Secured Parties a valid and enforceable security interest in the Collateral subject
thereto, and will constitute a fully perfected Lien on and security interest in all right, title and interest of the Loan Parties in the collateral subject thereto, prior and superior to the rights of any other Person. 
  
 (c) When the Security Agreement or an adequate summary thereof is properly
filed in the United States Patent and Trademark Office and the United States Copyright Office, and, with respect to Collateral in which a security interest cannot be perfected by such filings, upon the proper filing of the financing statements
referred to in paragraph (a) above, the Security Agreement and such financing statements shall constitute a fully perfected Lien on, and security interest in, all right, title and interest of the grantors thereunder in the Intellectual Property
(as defined in the Security Agreement), in each case prior and superior to the rights of any other Person subject only to Permitted Encumbrances (it being understood that subsequent recordings in the United States Patent and Trademark Office and the
United States Copyright Office may be necessary to perfect a lien on registered trademarks and patents, trademark and patent applications and registered copyrights acquired by the grantors after the date hereof). 
  

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 (d) The Aircraft Security Agreement entered into after the Second Amendment Effective Date pursuant to
Section 5.12, when executed and properly filed with the Federal Aviation Administration, shall be effective to constitute, in favor of the Collateral Agent, for the ratable benefit of the Secured Parties (as defined in the Aircraft Security
Agreement), a fully perfected Lien on, and security interest in, all right, title and interest of the grantors thereunder in the Aircraft and the proceeds thereof, prior and superior to the rights of any other Person subject only to Permitted
Encumbrances. 
  
 (e) The Mortgages, if any, entered into after
the Second Amendment Effective Date pursuant to Section 5.12 shall be effective to create in favor of the Collateral Agent, for the ratable benefit of the Secured Parties, a legal, valid and enforceable Lien on all of the applicable Loan
Parties’ right, title and interest in and to the Mortgaged Property thereunder and the proceeds thereof, and when such Mortgages are filed in the proper real estate filing offices, such Mortgages shall constitute a fully perfected Lien on, and
security interest in, all right, title and interest of the applicable Loan Parties in such Mortgaged Property and the proceeds thereof, in each case prior and superior to the rights of any other Person subject only to Permitted Encumbrances.

  
 (f) Upon the execution by (i) the applicable Loan Party,
(ii) the relevant depositary bank or securities intermediary and (iii) the Collateral Agent of an Account Control Agreement in respect of a Deposit and Securities Account, the security interest created in favor of the Collateral Agent for
the ratable benefit of the Secured Parties (as defined in the Security Agreement) by the Security Agreement shall constitute a fully perfected Lien on, and security interest in, all right, title and interest of the applicable Loan Party in such
Deposit and Securities Account and the proceeds thereof, in each case prior and superior to the rights of any other Person. 
  
 SECTION 3.19. Use of Proceeds. The Borrower will use the proceeds of the Loans and will request the issuance of Letters of Credit only for the
purposes set forth in Section 5.10. 
  
 SECTION 3.20.
Federal Reserve Regulation. No part of the proceeds of any of the Loans will be used for any purpose which violates or is inconsistent with the provisions of Regulation T, U or X of the Board. None of Borrower or any of the Subsidiaries is
engaged or will engage, principally or as one of its important activities, in the business of extending credit for the purpose of “purchasing” or “carrying” any “margin stock” within the meaning of Regulation U. As of
the Effective Date, no more than 25% of the value of the assets of the Borrower, or of the Borrower and the Subsidiaries taken as a whole, which are subject to the restrictions contained in Article VI would constitute Margin Stock. If the
proceeds of any Loans are to be used in a manner which would cause such Loans to be classified as “purpose credits” under Regulation U, then at the time of the making of such Loans and at the time of the making of each Loan thereafter
(after applying the proceeds of all Loans then being or theretofore made), no more than 25% of the value of the assets of the Borrower, or of the Borrower and the Subsidiaries taken as a whole, which are subject to the restrictions contained in
Article VI shall constitute Margin Stock. 
  

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 ARTICLE IV 
  
 Conditions 
  
 SECTION 4.01. Effective Date. The obligations of the Lenders to make Loans and of the Issuing Banks to issue Letters of Credit hereunder shall not
become effective until the date on which each of the following conditions is satisfied (or waived in accordance with Section 9.02): 
  
 (a) The Administrative Agent (or its counsel) shall have received from each party hereto either (i) a counterpart of this Agreement
signed on behalf of such party or (ii) written evidence satisfactory to the Administrative Agent (which may include telecopy transmission of a signed signature page of this Agreement) that such party has signed a counterpart of this Agreement.

  
 (b) The Administrative Agent shall have
received favorable written opinions (addressed to the Administrative Agent and the Lenders and dated the Effective Date) of Vinson & Elkins L.L.P., counsel for the Borrower, and of Edward B. Stead, General Counsel of the Borrower,
substantially in the forms of Exhibit B-1 and Exhibit B-2, respectively. The Borrower hereby requests such counsel to deliver such opinions. 
  

(c) The Administrative Agent shall have received such documents and certificates as the Administrative Agent or its counsel may
reasonably request relating to the organization, existence and good standing of each Loan Party, the authorization of the Transactions and any other legal matters relating to the Loan Parties, the Loan Documents or the Transactions, all in form and
substance reasonably satisfactory to the Administrative Agent. 
  
 (d) The Administrative Agent shall have received a certificate, dated the Effective Date and signed by the Chief Executive Officer or a Financial Officer of the Borrower, confirming compliance with the conditions set
forth in paragraphs (a) and (b) of Section 4.02. 
  
 (e) The Administrative Agent shall have received all fees and other amounts due and payable on or prior to the Effective Date, including, to the extent invoiced at least one Business Day prior to the Effective Date,
reimbursement or payment of all out-of-pocket expenses (including reasonable fees, charges and disbursements of counsel) required to be reimbursed or paid by any Loan Party hereunder or under any other Loan Document. 
  
 (f) The Collateral and Guarantee Requirement shall have been
satisfied, (ii) the Administrative Agent shall have received a completed Perfection Certificate dated the Effective Date and signed by an executive officer or Financial Officer of the Borrower, together with all attachments contemplated
thereby, (iii) the Borrower shall have delivered, and caused each Subsidiary Loan 

  

 72 

 
Party to deliver, to the Collateral Agent all certificates, if any, representing Equity Interests required to be pledged pursuant to the Collateral and
Guarantee Requirement and (iv) the Collateral Agent, for the ratable benefit of the Lenders, shall have a fully perfected first priority Lien on, and security interest in, the Collateral. 
  
 (g) The terms and conditions of the Subordinated Debt and
the provisions of the Subordinated Debt Documents shall be reasonably satisfactory to the Lenders. The Administrative Agent shall have received copies of the Subordinated Debt Documents, certified by a Financial Officer as complete and correct.

  
 (h) All consents and approvals required to be
obtained from any Governmental Authority or other Person in connection with the Transactions shall have been obtained and shall be in full force and effect. 
  
 (i) The Existing Credit Agreement shall have been terminated and all amounts outstanding thereunder shall have been repaid or shall be
repaid substantially simultaneously with the making of the initial Loans hereunder pursuant to arrangements reasonably satisfactory to the Administrative Agent. 
  

Upon satisfaction of each of the conditions set forth in Section 4.01, the Borrower and the Administrative Agent shall execute a certificate of
effectiveness in the form attached hereto as Exhibit I confirming such satisfaction and confirming the Effective Date, and thereafter, the Administrative Agent shall promptly notify the Lenders in writing of the Effective Date, and such
notice shall be conclusive and binding. Notwithstanding the foregoing, the obligations of the Lenders to make Loans and of the Issuing Banks to issue Letters of Credit hereunder shall not become effective unless each of the foregoing conditions is
satisfied (or waived pursuant to Section 9.02) at or prior to 5:00 p.m., New York City time, on October 31, 2004 (and, in the event such conditions are not so satisfied or waived, the Commitments shall terminate at such time). 

 
 SECTION 4.02. Each Credit Event. The obligation of each Lender to
make a Loan on the occasion of any Borrowing, and of an Issuing Bank to issue, amend, renew or extend any Letter of Credit, is subject to receipt of the request therefor in accordance herewith and to the satisfaction of the following conditions:

  
 (a) The representations and warranties of
each Loan Party set forth in the Loan Documents shall be true and correct in all material respects on and as of the date of such Borrowing or the date of issuance, amendment, renewal or extension of such Letter of Credit (or, if any such
representation or warranty is expressly stated to have been made as of a specific date, as of such specific date). 
  
 (b) At the time of and immediately after giving effect to such Borrowing or the issuance, amendment, renewal or extension of such Letter
of Credit, no Default shall have occurred and be continuing. 
  

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 (c) In the case of a Borrowing, the Available Cash on such date (after giving effect to
such Borrowing) plus any other funds anticipated to be received on such date minus any cash expenditures anticipated to be made on such date, will not exceed $50,000,000. 
  
 (d) The Administrative Agent shall have received a certificate of a Financial Officer of the Borrower, in
detail reasonably satisfactory to the Administrative Agent, confirming compliance with the condition set forth in paragraph (c) of this Section 4.02. 
  

Each Borrowing and each issuance, amendment, renewal or extension of a Letter of Credit shall be deemed to constitute a representation and warranty by the Borrower on
the date thereof as to the matters specified in paragraphs (a) and (b) of this Section. 
  
 ARTICLE V 
  
 Affirmative Covenants 
  
 Until the Commitments
have expired or been terminated and the principal of and interest on each Loan and all fees payable hereunder shall have been paid in full and all Letters of Credit shall have expired or terminated and all LC Disbursements shall have been
reimbursed, the Borrower covenants and agrees with the Lenders that: 
  
 SECTION 5.01. Financial Statements and Other Information. The Borrower will furnish to the Administrative Agent and each Lender: 
  
 (a) within 90 days after the end of each fiscal year of the Borrower, its audited consolidated balance sheet and related audited
statements of operations, stockholders’ equity and cash flows as of the end of and for such year, setting forth in each case in comparative form the figures for the previous fiscal year, all reported on by PricewaterhouseCoopers LLP or other
independent registered public accounting firm of recognized national standing (without a “going concern” or like qualification or exception and without any qualification or exception as to the scope of such audit) to the effect that such
consolidated financial statements present fairly in all material respects the financial condition and results of operations of the Borrower and the consolidated Subsidiaries on a consolidated basis in accordance with GAAP (it being understood that
such financial statements and opinion may be furnished, if included therein, in the form of the Borrower’s Annual Report on Form 10-K and any related Annual Report delivered to stockholders and filed with the Securities and Exchange
Commission); 
  
 (b) within 45 days after
the end of each of the first three fiscal quarters of each fiscal year of the Borrower, its consolidated balance sheet and related statements of operations, stockholders’ equity and cash flows as of the end of and for such fiscal quarter and
the then elapsed portion of the fiscal year, setting forth 

  

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in each case in comparative form the figures for the corresponding period or periods of (or, in the case of the balance sheet, as of the end of) the previous
fiscal year, all certified by one of its Financial Officers as presenting fairly in all material respects the financial condition and results of operations of the Borrower and the consolidated Subsidiaries on a consolidated basis in accordance with
GAAP, subject to normal year-end audit adjustments and the absence of footnotes (it being understood that such financial statements may be furnished, if included therein, in the form of the Borrower’s Quarterly Report on Form 10-Q filed
with the Securities and Exchange Commission); 
  
 (c) concurrently with any delivery of financial statements under clause (a) or (b) above, a certificate of a Financial Officer of the Borrower (i) certifying as to whether a Default has occurred and, if a Default has
occurred, specifying the details thereof and any action taken or proposed to be taken with respect thereto, (ii) identifying any Subsidiary formed or acquired during the most recent fiscal quarter covered by such financial statements, and
stating whether the Collateral and Guarantee Requirement has been satisfied in respect of such Subsidiary, (iii) setting forth reasonably detailed calculations demonstrating compliance with Sections 6.12, 6.13, 6.14 and 6.15,
(iv) stating whether any change in GAAP or in the application thereof has occurred since (A) with respect to the initial set of financial statements delivered hereunder, the date of the Borrower’s audited financial statements referred
to in Section 3.04, and (B) thereafter, the date of the Borrower’s previously delivered financial statements referred to in Section 5.01(a), and, if any such change has occurred, specifying the effect of such change on the
financial statements accompanying such certificate and (v) setting forth a list of (A) Permitted Store Sales and Permitted Store Swaps effected during the most recent fiscal quarter covered by such financial statements, (B) any other
asset sold, transferred or otherwise disposed of by the Borrower and the Subsidiaries during the most recent fiscal quarter covered by such financial statements for consideration having a value of $5,000,000 or more, (C) Permitted Acquisitions
effected during the most recent fiscal quarter covered by such financial statements, (D) other individual Capital Expenditure transactions for $5,000,000 or more effected during the most recent fiscal quarter covered by such financial
statements, specifying the amounts thereof and (E) non-recurring cash charges of $2,500,000 or more incurred during the most recent fiscal quarter covered by such financial statements that were or will be excluded from the calculation of
Consolidated EBITDA pursuant to clause (j) of the definition of Consolidated EBITDA; 
  
 (d) concurrently with any delivery of financial statements under clause (a) above, a certificate of the accounting firm that reported
on such financial statements stating whether they obtained knowledge during the course of their examination of such financial statements of any Default (which certificate may be limited to the extent required by accounting rules or guidelines);

  

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 (e) promptly after the same become publicly available, copies of all periodic and other
reports, and proxy statements filed by, the Borrower or any Subsidiary with the SEC, or any Governmental Authority succeeding to any or all of the functions of said Commission, or with any national securities exchange, or distributed by the Borrower
to its shareholders generally, as the case may be; 
  
 (f) not later than (x) the 20th Business Day after the end of each month that is not the end of a fiscal quarter, (y) the 45th day after the end of each month that is also the end of each of the first three fiscal quarters of each
fiscal year and (z) the 90th day after the end of each month that is also the end of each fiscal year, beginning with the month during which the Third Amendment Effective Date occurs, the Borrower will deliver to the Administrative Agent:

  
 (i) an unaudited consolidated income
statement of the Borrower for such month and for the elapsed portion of the fiscal quarter including such month, in each case, broken down by domestic and international operations, together with (A) comparative consolidated financial
information with respect to the elapsed portion of the corresponding fiscal quarter during the prior fiscal year and (B) a reconciliation to the forecast with respect to the corresponding periods contained in the then-current business plan and
a detailed explanation of material variances from such forecast, 
  
 (ii) an unaudited consolidated balance sheet of the Borrower as of the last day of such month, together with comparative consolidated financial information with respect to the last day of the corresponding month of
the prior fiscal year, and an unaudited consolidated statement of cash flows of the Borrower for such month and the elapsed portion of the fiscal quarter including such month, together with comparative financial information with respect to the
elapsed portion of the corresponding fiscal quarter during the prior fiscal year, and setting forth (A) the amount of Capital Expenditures of the Borrower and the Subsidiaries for such month and (B) the Borrower’s consolidated cash
balance as of the last day of such month, broken down by domestic and international operations and Available Cash balances and other domestic cash balances, and 
  
 (iii) forecasted consolidated monthly financial statements of the Borrower for the ensuing two fiscal years
(or, if shorter, forecasted monthly consolidated financial statements of the Borrower for each fiscal year through and including the fiscal year during which the Tranche B Maturity Date occurs), 
  
 in the case of all information delivered pursuant to this clause (f), in
such form and detail as the quarterly financial statements delivered pursuant to clause (b) of this Section or such other format and detail as is reasonably acceptable to the Administrative Agent; 
  

 76 

 (g) not later than the 20th Business Day of each month, beginning with the month during
which the Third Amendment Effective Date occurs, the Borrower will deliver to the Administrative Agent a consolidated cash flow forecast for the Borrower’s domestic operations for the ensuing 13 weeks, together with a reconciliation to the
forecast contained in the then-current business plan and a detailed explanation of material variances from such forecast, in each case, broken down by week and otherwise in form and detail reasonably acceptable to the Administrative Agent;

  
 (h) not later than (x) the 45th day
after the end of each month that is also the end of each of the first three fiscal quarters of each fiscal year and (y) the 90th day after the end of each month that is also the end of each fiscal year, beginning with the month during which the
Third Amendment Effective Date occurs, the Borrower will deliver to the Administrative Agent an unaudited income statement relating to the Borrower’s and the Subsidiaries’ foreign operations for the most recent ended fiscal quarter,
together with (A) comparative financial information with respect to the corresponding period during the prior fiscal year and (B) a reconciliation to the forecast with respect to the corresponding period contained in the then current
business plan and a detailed explanation of material variances from such forecast; 
  
 (i) not later than January 31st of each year, beginning on January 31, 2006, the Borrower will deliver to the Administrative
Agent a comprehensive five-year business plan (or, if shorter, a business plan through and including the fiscal year during which the Tranche B Maturity Date occurs) for the Borrower and the Subsidiaries, covering (x) each month during the then
current fiscal year, (y) each fiscal quarter for the following two fiscal years and (z) each fiscal year thereafter, which business plan will be in form and detail reasonably satisfactory to the Administrative Agent after consultation with
the Borrower; and 
  
 (j) promptly following any
request therefor, such other information (including key operational metrics) regarding the operations, business affairs and financial condition of, the Borrower or any Subsidiary, or compliance with the terms of any Loan Document, as the
Administrative Agent or any Lender may reasonably request. 
  
 Reports and other
information required to be delivered pursuant to subsections (a), (b) and (e) of this Section 5.01 shall be deemed to have been delivered on the date on which the Borrower posts such reports on its website at
www.blockbuster.com or when such reports are posted on the SEC’s website at www.sec.gov; provided that the Borrower shall deliver to the Administrative Agent at the time such financial statements are made available the
certification of a Financial Officer, as required by paragraph (b) above, and, in the case of annual financial statements, the certification required by paragraph (c) above. 
  

 77 

 SECTION 5.02. Notices of Material Events. The Borrower will furnish to the Administrative Agent,
promptly after any Financial Officer or other executive officer of the Borrower becomes aware thereof, written notice of the following: 
  
 (a) the occurrence of any Default; 
  
 (b) the filing or commencement of any action, suit or proceeding by or before any arbitrator or Governmental Authority against or
affecting, the Borrower or any Subsidiary that, if adversely determined, would reasonably be expected to result in a Material Adverse Effect; 
  
 (c) the occurrence of any ERISA Event that, alone or together with any other ERISA Events that have occurred, would reasonably be expected
to result in liability of the Borrower and the Subsidiaries in an aggregate amount exceeding $25,000,000; and 
  
 (d) any other event or occurrence that results in, or would reasonably be expected to result in, a Material Adverse Effect. 
  
 Each notice delivered under this Section shall be accompanied by a statement of a Financial
Officer or other executive officer of the Borrower setting forth the details of the event or development requiring such notice and any action taken or proposed to be taken with respect thereto. 
  
 SECTION 5.03. Information Regarding Collateral. (a) The Borrower
will furnish to the Administrative Agent prompt written notice of any change (i) in any Loan Party’s legal name, (ii) in any Loan Party’s identity, form of organization or jurisdiction of organization or (iii) in any Loan
Party’s Federal Taxpayer Identification Number or identifying number (if any) assigned by the jurisdiction of its organization. The Borrower agrees not to effect or permit any change referred to in the preceding sentence unless all filings have
been made under the Uniform Commercial Code or otherwise that are required in order for the Administrative Agent to continue at all times following such change to have a valid, legal and perfected first priority security interest in all the
Collateral. 
  
 (b) Each year, at the time of delivery of annual
financial statements with respect to the preceding fiscal year pursuant to clause (a) of Section 5.01, the Borrower shall deliver to the Administrative Agent a certificate of a Financial Officer of the Borrower (i) setting forth the
information required pursuant to Sections 1 and 2 of the Perfection Certificate or confirming that there has been no change in such information since the date of the Perfection Certificate delivered on the Second Amendment Effective Date or the date
of the most recent certificate delivered pursuant to this Section and (ii) certifying that all appropriate filings, recordings or registrations, including all refilings, rerecordings and reregistrations, containing a description of the
Collateral have been filed of record in each governmental, municipal or other appropriate office in each jurisdiction identified pursuant to clause (i) above to the extent necessary to protect and perfect the 

  

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security interests under the Collateral Agreement for a period of not less than 18 months after the date of such certificate (except as noted therein with
respect to any continuation statements to be filed within such period). 
  
 SECTION 5.04. Existence; Conduct of Business. The Borrower will, and will cause each of the Subsidiaries to, do or cause to be done all things necessary to preserve, renew and keep in full force and effect its legal existence and
(except where the failure to do so would not reasonably be expected to result in a Material Adverse Effect) the rights, licenses, permits, privileges, franchises, patents, copyrights, trademarks and trade names material to the conduct of its
business; provided that the foregoing shall not prohibit any merger, consolidation, liquidation or dissolution permitted under Section 6.03. 
  
 SECTION 5.05. Payment of Obligations. The Borrower will, and will cause each of the Subsidiaries to, pay its Taxes and other material obligations
(other than Indebtedness), before the same shall become delinquent or in default, except where (a) the validity or amount thereof is being contested in good faith by appropriate proceedings, and the Borrower or such Subsidiary has set aside on
its books adequate reserves with respect thereto in accordance with GAAP and (b) the failure to make payment would not reasonably be expected to result in a Material Adverse Effect. 
  
 SECTION 5.06. Maintenance of Properties. The Borrower will, and will cause each of the Subsidiaries to, keep and
maintain all property material to the conduct of its business in good working order and condition, ordinary wear and tear excepted. In addition, the Borrower will, and will cause each of the Subsidiaries to, from time to time make or cause to be
made all appropriate repairs, renewals and replacements, except where the failure to do so would not reasonably be expected to result in a Material Adverse Effect. 
  
 SECTION 5.07. Insurance. The Borrower will, and will cause each of the Subsidiaries to, maintain, with financially
sound and reputable insurance companies insurance in such amounts (with no greater risk retention) and against such risks as a prudent company with similar financial resources engaged in the same or similar businesses operating in the same or
similar locations would maintain. The Borrower will furnish to the Lenders, upon reasonable written request of the Administrative Agent, information in reasonable detail as to the insurance so maintained. 
  
 SECTION 5.08. Books and Records; Inspection and Audit Rights. The
Borrower will, and will cause each of the Subsidiaries to, keep proper books of record and account in which full, true and correct entries are made of all dealings and transactions in relation to its business and activities. The Borrower will, and
will cause each of the Subsidiaries to, permit any representatives designated by the Administrative Agent or any Lender, upon reasonable prior written notice, to visit and inspect its properties, to examine and make extracts from its books and
records, and to discuss its affairs, finances and condition with its officers and independent accountants, all at such reasonable times during normal business hours and as often as reasonably requested. 
  

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 SECTION 5.09. Compliance with Laws. The Borrower will, and will cause each of the Subsidiaries to,
comply with all laws, rules, regulations and orders of any Governmental Authority applicable to it or its property, except where the failure to do so, individually or in the aggregate, would not reasonably be expected to result in a Material Adverse
Effect. 
  
 SECTION 5.10. Use of Proceeds and Letters of
Credit. The proceeds of the Term Loans and the Revolving Loans made on the Effective Date, together with the proceeds of the Subordinated Debt, will be used only for (a) the payment of amounts, including principal, interest, costs, fees and
expenses, outstanding or payable under the Existing Credit Agreement, (b) the payment of the Special Dividend, (c) the payment of fees and expenses payable in connection with the Transactions, the issuance and sale of the Subordinated
Debt, the Special Dividend and the Split-Off and (d) for general corporate purposes, including working capital, stock repurchases and acquisitions. The Revolving Loans made after the Effective Date, Competitive Loans and Swingline Loans will be
used only for general corporate purposes, including working capital purposes, stock repurchases and acquisitions. Viacom LCs will be issued only as required by the Split-Off Agreement. Letters of Credit will be issued only to support payment
obligations incurred in the ordinary course of business. No part of the proceeds of any Loan will be used, whether directly or indirectly, for any purpose that entails a violation of any of the Regulations of the Board, including Regulations U
and X. 
  
 SECTION 5.11. Additional Subsidiaries. If any
Subsidiary is formed or acquired after the Effective Date, the Borrower will, within ten Business Days after such Subsidiary is formed or acquired, notify the Administrative Agent and the Lenders thereof and within 15 Business Days after such
Subsidiary is formed or acquired cause the Collateral and Guarantee Requirement to be satisfied with respect to such Subsidiary (if it is a Subsidiary Loan Party) and with respect to any Equity Interest in such Subsidiary, if it is a Domestic
Subsidiary or a Significant Foreign Subsidiary, owned by or on behalf of any Loan Party (subject to the limits on Significant Foreign Subsidiaries set forth in clause (b) of the definition of “Collateral and Guarantee Requirement” and
in the Collateral Agreement). 
  
 SECTION 5.12. Further
Assurances. (a) The Borrower will, and will cause each Subsidiary Loan Party to, execute any and all further documents, financing statements, agreements and instruments, and take all such further actions (including the filing and recording
of financing statements, fixture filings, Mortgages and other documents), that may be required under any applicable law, or that the Administrative Agent may reasonably request, to cause the Collateral and Guarantee Requirement to be and remain
satisfied, all at the expense of the Loan Parties; provided that the Collateral and Guarantee Requirement need not be satisfied with respect to (i) real properties owned by the Borrower or any Subsidiary Loan Party with an individual
fair market value (including fixtures and improvements) that is $500,000 or less, (ii) any real property held by the Borrower or any Subsidiary Loan Party as a lessee under a lease, (iii) the Airplane, until 45 days after the Second
Amendment Effective Date, (iv) any real property owned by the Borrower or any Subsidiary Loan Party on the Second Amendment Effective Date, 

  

 80 

 
until 75 days after the Second Amendment Effective Date and (v) the Account Control Agreements in respect of the Deposit and Securities Accounts, until
30 days after the Third Amendment Effective Date. The Borrower also agrees to provide to the Administrative Agent, from time to time upon request, evidence reasonably satisfactory to the Administrative Agent as to the perfection and priority of the
Liens created or intended to be created under the Security Documents. 
  
 (b) If any asset (including any real property or improvements thereto or any interest therein) that has an individual fair market value of more than $500,000 is owned or acquired by the Borrower or any Subsidiary Loan Party after the Second
Amendment Effective Date or owned by an entity at the time it becomes a Subsidiary Loan Party (in each case other than assets constituting Collateral under any Security Document that become subject to the Lien of such Security Document upon
acquisition thereof), the Borrower will, to the extent not already done so, notify the Administrative Agent and the Lenders thereof, and, if requested by the Administrative Agent or the Required Lenders, the Borrower will cause such asset to be
subjected to a Lien securing the Obligations and will take, and cause the Subsidiary Loan Parties to take, such actions as shall be necessary or reasonably requested by the Administrative Agent to grant and perfect such Liens, including actions
described in paragraph (a) of this Section, all at the expense of the Loan Parties; provided that the Collateral and Guarantee Requirement need not be satisfied with respect to (i) any real property held by the Borrower or any
Subsidiary as a lessee under a lease and (ii) any other assets with respect to which the Administrative Agent determines that the cost or impracticability of including such assets as Collateral would be excessive in relation to the benefits to
the Lenders, (iii) the Airplane, until 45 days after the Second Amendment Effective Date, (iv) any real property owned by the Borrower or any Subsidiary Loan Party on the Second Amendment Effective Date, until 75 days after the Second
Amendment Effective Date and (v) the Account Control Agreements in respect of the Deposit and Securities Accounts, until 30 days after the Third Amendment Effective Date. 
  
 SECTION 5.13. Cash Management System. The Borrower will, and will cause each of the Subsidiaries to, continue to
administer and conduct their existing cash management system in the ordinary course and consistently with past practice, including in connection with the making, processing and crediting of credit card and other deposits and the collection and
transmission of funds in connection therewith; provided that the foregoing will not preclude the Borrower from implementing improvements in such cash management systems to achieve faster collection and transmission of funds so long as such
improvements are described in reasonable detail in a notice furnished by the Borrower to the Administrative Agent reasonably in advance of any such implementation. Without limiting the foregoing, the Borrower will, and will cause each of its
Domestic Subsidiaries to, continue to deposit cash and credit card receipts into local depositary banks substantially in accordance with their existing practice and schedules, to obtain availability of funds from such depositary banks substantially
in accordance with existing schedules and on existing terms and cause available funds to be transferred by such depositary banks on such daily or other basis as currently in effect, or, in each case, on such faster schedules as the Borrower may
achieve pursuant to implementing 

  

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improvements referred to in the immediately preceding sentence. The Borrower will not, and will not permit the Domestic Subsidiaries to, establish any
concentration account that is not subject to an Account Control Agreement. 
  
 SECTION 5.14. Use of Proceeds of Certain Equity Interests. The net proceeds received on or within the 10 days prior to the Third Amendment Effective Date from the issuance and sale of the Convertible Preferred
Stock or shares of the Borrower’s common stock will be used only for working capital purposes, including to repay Revolving Loans. 
  
 SECTION 5.15. Perfection of Deposit and Securities Accounts. As promptly as practicable, but in any event within 30 days after the Third Amendment
Effective Date, the Borrower will, and will cause the Subsidiaries to, deliver to the Administrative Agent an Account Control Agreement in respect of each Deposit and Securities Account set forth in the letter from the Borrower addressed to the
Administrative Agent dated November 4, 2005. 
  
 ARTICLE VI

  
 Negative Covenants 
  
 Until the Commitments have expired or terminated and the principal of and
interest on each Loan and all fees payable hereunder have been paid in full and all Letters of Credit have expired or terminated and all LC Disbursements shall have been reimbursed, the Borrower covenants and agrees with the Lenders that:

  
 SECTION 6.01. Indebtedness; Certain Equity Securities.
(a) The Borrower will not, and will not permit any Subsidiary to, create, incur, assume or permit to exist any Indebtedness or any Attributable Debt in respect of Sale and Leaseback Transactions, except: 
  
 (i) Indebtedness created under the Loan Documents;

  
 (ii) the Subordinated Debt; 
  
 (iii) Indebtedness existing on the date hereof and, in the
case of Indebtedness owed to Persons other than the Borrower or Subsidiaries in a principal amount in excess of $1,000,000, set forth on Schedule 6.01; 
  
 (iv) unsecured Indebtedness of the Borrower, the Net Proceeds of which are used solely to prepay Term Loans and pay associated interest,
costs and expenses within five Business Days of the receipt of the Net Proceeds of such unsecured Indebtedness; 
  
 (v) Indebtedness represented by Commercial Paper; provided that such Indebtedness is permitted pursuant to Section 6.13;

  

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 (vi) Permitted Subordinated Indebtedness; provided that such Indebtedness is
permitted pursuant to Section 6.13; 
  
 (vii) unsecured Indebtedness of the Borrower or any Subsidiaries in addition to the Indebtedness permitted above; provided that the aggregate principal amount of Indebtedness permitted by this clause shall not exceed $50,000,000 at
any time outstanding; and provided further, that such Indebtedness is permitted pursuant to Section 6.13; 
  
 (viii) Indebtedness of the Foreign Subsidiaries (other than Indebtedness owed to the Borrower or Domestic Subsidiaries) in an aggregate
principal amount at any time outstanding not in excess of the greater of (i) $100,000,000 and (ii) an amount equal to 10% of the total assets of all Foreign Subsidiaries as of the end of the most recent fiscal quarter in respect of which
financial statements have been delivered pursuant to Section 5.01 (calculated on a combined basis for such Foreign Subsidiaries in accordance with GAAP); 
  

(ix) unsecured Indebtedness of the Borrower to any Subsidiary and of any Subsidiary to the Borrower or any other Subsidiary;
provided that (x) such Indebtedness owed by any Loan Party is subordinated to the Obligations in accordance with the provisions of an Affiliate Subordination Agreement substantially in the form of Exhibit J hereto and
(y) Indebtedness of any Subsidiary that is not a Loan Party to the Borrower or any Subsidiary Loan Party shall be subject to Section 6.04; 
  
 (x) Indebtedness and Attributable Debt of the Borrower or any Subsidiary incurred to finance the acquisition, construction or improvement
of any franchise development rights or capital or other long-term assets, including Capital Lease Obligations, any Indebtedness assumed in connection with the acquisition of any such assets or secured by a Lien on any such assets prior to the
acquisition thereof (or prior to the acquisition of any Subsidiary holding such assets, provided that such Indebtedness or Attributable Debt was not incurred in contemplation thereof) and Attributable Debt in connection with Sale and Leaseback
Transactions permitted by Section 6.06, provided that (x) such Indebtedness or Attributable Debt is incurred prior to or within 90 days after such acquisition or the completion of such construction or improvement, and (y) the
amount of such Indebtedness or Attributable Debt does not exceed the cost of acquiring, constructing or improving such franchise development rights or assets, and (z) the aggregate principal amount of Indebtedness permitted by this clause
(x) and Attributable Debt in connection with Sale and Leaseback Transactions permitted by Section 6.06, together with any Refinancing Indebtedness in respect thereof permitted by clause (xi) below, shall not exceed $40,000,000 at any
time outstanding; 
  

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 (xi) Refinancing Indebtedness in respect of the Indebtedness provided by clauses (iii),
(iv) and (x); 
  
 (xii) Guarantees by the
Borrower or other Loan Parties of Indebtedness of Domestic Subsidiaries or, to the extent permitted by Section 6.04(c), Foreign Subsidiaries; 
  
 (xiii) Guarantees by the Borrower of Indebtedness or Attributable Debt of Franchisees in an aggregate amount at any time outstanding not
exceeding $15,000,000 or such lesser amount as is permitted to be outstanding pursuant to Section 6.04(c); and 
  
 (xiv) Indebtedness (other than Long-Term Indebtedness) not in excess of $10,000,000 at any time outstanding incurred to finance the
payment of premiums on insurance policies. 
  
 (b) The Borrower
will not permit any Domestic Subsidiary or Significant Foreign Subsidiary to issue any preferred Equity Interests other than to the Borrower or any Subsidiary Loan Party; provided that any such preferred Equity Interests issued to the
Borrower or any Subsidiary Loan Party shall be pledged pursuant to the terms of the Collateral Agreement or, in the case of Equity Interests of Significant Foreign Subsidiaries, a Foreign Pledge Agreement. 
  
 SECTION 6.02. Liens. The Borrower will not, and will not permit any
Subsidiary to, create, incur, assume or permit to exist any Lien on any property or asset now owned or hereafter acquired by it, or assign or sell any income or revenues (including accounts receivable) or rights in respect of any thereof, except:

  
 (i) Liens created under the Loan Documents;

  
 (ii) Permitted Encumbrances; 
  
 (iii) any Lien on any property or asset of the Borrower or
any Subsidiary existing on the date hereof and set forth in Schedule 6.02; provided that any such Lien shall secure only Indebtedness or obligations which it secures on the date hereof or any Refinancing Indebtedness permitted in respect
of any such Indebtedness or any refinancing of any such other obligation not constituting Indebtedness that does not significantly increase the amount thereof; 
  

(iv) Liens on franchise development rights or capital or other long-term assets acquired, constructed or improved by the Borrower or
any Subsidiary after the date hereof; provided that (A) such security interests secure Indebtedness permitted by clause (x) of Section 6.01(a) or refinancings thereof permitted by clause (xi) of Section 6.01(a),
(B) such security interests and the Indebtedness secured thereby are incurred prior to or within 90 days after such acquisition or the completion of such 

  

 84 

 
construction or improvement, (C) the Indebtedness secured thereby does not exceed the cost of acquiring, constructing or improving such fixed or capital
assets and (D) such security interests shall not apply to any other property or assets of the Borrower or any Subsidiary; 
  
 (v) Liens on assets of Subsidiaries acquired after the Effective Date existing at the time of such acquisition and not incurred in
contemplation thereof securing Indebtedness permitted by Section 6.01(a)(x); 
  
 (vi) Liens on assets of Foreign Subsidiaries securing Indebtedness permitted by Section 6.01(a)(viii); 
  
 (vii) Liens created pursuant to the express terms of the
Viacom Agreements as in effect on the Effective Date, or as subsequently amended or modified to the extent permitted by Section 6.11, provided, however, that no Lien permitted under this clause (vii) will extend to any
Collateral; 
  
 (viii) Liens on funds of the
Borrower or any Subsidiary held in deposit accounts with third party providers of payment services securing credit card charge-back reimbursement and similar obligations of the Borrower or the Subsidiaries; provided that the amount of funds
at any time subject to such Liens does not exceed $1,000,000; and 
  
 (ix) Liens on insurance policies and proceeds of insurance policies (including rebates of premiums) securing Indebtedness incurred pursuant to Section 6.01(a)(xiv) to finance the payment of premiums on the
insurance policies subject to such Liens. 
  
 SECTION 6.03.
Fundamental Changes. The Borrower will not, and will not permit any Subsidiary to, merge into or consolidate with any other Person, or permit any other Person to merge into or consolidate with it, or liquidate or dissolve, except that, if at
the time thereof and immediately after giving effect thereto no Default shall have occurred and be continuing, (i) (a) any wholly owned domestic Subsidiary may merge or consolidate with the Borrower in a transaction in which the Borrower
is the surviving entity and (b) the Borrower may merge or consolidate with any other Person so long as the Borrower is the surviving entity or the surviving corporation (if the surviving corporation is not the Borrower) shall be organized under
the laws of a state of the United States of America or the District of Columbia and shall assume all of the Loans and other obligations of the Borrower under this Agreement pursuant to a written instrument satisfactory to the Administrative Agent
and shall cause to be delivered such opinions of counsel satisfactory to the Administrative Agent as the Administrative Agent shall reasonably request relating to such merger and assumption, (ii) any Person may merge or consolidate with any
Subsidiary in a transaction in which the surviving entity is a Subsidiary and (if any party to such merger is a Subsidiary Loan Party) is a Subsidiary Loan Party and (iii) any Subsidiary (other than a Subsidiary Loan Party) may liquidate or
dissolve if the Borrower determines in good faith that such liquidation or dissolution is in 

  

 85 

 
the best interests of the Borrower and is not materially disadvantageous to the Lenders; provided, in each case that any such merger or consolidation
involving a Person that is not a wholly owned Subsidiary immediately prior to such merger shall not be permitted unless also permitted by Section 6.04. 
  
 SECTION 6.04. Investments, Loans, Advances, Guarantees and Acquisitions. The Borrower will not, and will not permit any of the Subsidiaries to,
purchase, hold, acquire, make or permit to exist any Investment, except: 
  
 (a) Permitted Investments; 
  
 (b) Investments (other than in Subsidiaries) existing on the date hereof; 
  
 (c) Investments by the Borrower and the Subsidiaries in Equity Interests in their Subsidiaries; provided that (i) any such
Equity Interests held by a Loan Party in a Domestic Subsidiary or a Significant Foreign Subsidiary shall be pledged pursuant to the Collateral Agreement or a Foreign Pledge Agreement (subject to the limitations applicable to Equity Interests of a
Significant Foreign Subsidiary referred to in the definition of “Collateral and Guarantee Requirement”) and (ii) the aggregate cumulative amount of Investments by Loan Parties in, and loans and advances by Loan Parties to, and
guarantees by Loan Parties of Indebtedness or other obligations of, Foreign Subsidiaries (excluding any such equity Investments existing on the Effective Date and any such loans, advances or guarantees existing on the Effective Date and set forth on
Schedule 6.01), taken together with the aggregate amount of Guarantees of Indebtedness or Attributable Debt of Franchisees permitted under Section 6.01(a)(xiii), shall not exceed $30,000,000 outstanding at any time. 
  
 (d) loans or advances made by the Borrower to any Subsidiary
and made by any Subsidiary to the Borrower or any other Subsidiary; provided that (i) such loans or advances comply with the applicable provisions of Section 6.01(a) and (ii) the amount of such loans and advances made by Loan
Parties to Foreign Subsidiaries shall be subject to the limitation set forth in clause (c) above; 
  
 (e) Investments received in connection with the bankruptcy or reorganization of, or settlement of delinquent accounts and disputes with,
customers, Franchisees and suppliers, in each case in the ordinary course of business; 
  
 (f) Permitted Acquisitions; provided that, after giving effect to such Permitted Acquisition, (i) aggregate Capital
Expenditures relating to Permitted Acquisitions made during the then current fiscal year will not exceed $25,000,000 and (ii) the Borrower will be in compliance with Section 6.14; 
  
 (g) Investments consisting of non-cash consideration
permitted to be received in respect of sales or dispositions of assets permitted by Section 6.05; 
  

 86 

 (h) Investments consisting of Guarantees of Indebtedness of Franchisees permitted by
Section 6.01(a)(xiii) and subject to the aggregate limitation set forth in subclause (ii) of the proviso in clause (c) of this Section; 
  
 (i) guarantees by the Borrower or other Loan Parties of obligations other than Indebtedness of any Subsidiary Loan Party, in each case in
the ordinary course of business; 
  
 (j) other
Investments in an aggregate cumulative amount not in excess of $25,000,000 at any time outstanding; and 
  
 (k) assets received as a result of Permitted Store Swaps. 
  
 SECTION 6.05. Asset Sales. The Borrower will not, and will not permit any of the Subsidiaries to, sell, transfer,
lease or otherwise dispose of (in one transaction or a series of transactions) all or any substantial part of the assets of the Borrower and the Subsidiaries, taken as a whole, or any Equity Interest owned by it, nor will the Borrower permit any of
the Subsidiaries to issue any additional Equity Interest in such Subsidiary (other than to the Borrower or a Subsidiary), except: 
  
 (a) sales of inventory, used or surplus equipment and Permitted Investments in the ordinary course of business, including sales to
Franchisees; 
  
 (b) sales, transfers and
dispositions to the Borrower or a Subsidiary; provided that any such sales, transfers or dispositions involving a Subsidiary that is not a Loan Party shall be made in compliance with Section 6.09; 
  
 (c) Permitted Store Sales and Permitted Store Swaps,
provided that the sum of (x) the aggregate non-cash consideration received for all Permitted Store Sales (other than non-cash consideration permitted by clause (ii) of the proviso at the end of this Section in transactions involving
consideration at least 75% of which is cash and cash equivalents) plus (y) the aggregate fair market value of all Stores and related assets transferred by the Borrower and its Subsidiaries in Permitted Store Swaps (less any consideration
in the form of cash and cash equivalents received in exchange therefor) does not exceed $25,000,000; and 
  
 (d) sales, transfers and other dispositions of assets (including sales of Equity Interests) that are not permitted by any other clause of
this Section; provided that the cumulative aggregate fair market value of all assets (including Equity Interests) sold, transferred or otherwise disposed of in reliance upon this clause (d) (determined at the time of any such sale or
disposition and without regard to subsequent changes in such value) shall not exceed $100,000,000; 
  
 provided that all sales, transfers, leases and other dispositions permitted hereby (including sales of Equity Interests) (i) shall (except in the case of those permitted by clause (b) above) be made
for fair value and (ii) shall be made solely for consideration of which at least 75% thereof is in cash or cash equivalents (provided that sales of Permitted 

  

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Investments shall be made solely for cash or cash equivalents and Permitted Store Sales and Permitted Store Swaps may be effected for non-cash consideration
to the extent permitted by clause (c) above). 
  
 SECTION
6.06. Sale and Leaseback Transactions. The Borrower will not, and will not permit any of the Subsidiaries to, enter into any arrangement, directly or indirectly, whereby it shall sell or transfer any property, real or personal, used or useful
in its business, whether now owned or hereinafter acquired, and thereafter rent or lease such property or other property that it intends to use for substantially the same purpose or purposes as the property sold or transferred (a “Sale and
Leaseback Transaction”), except for any such sale of any fixed or capital assets that is made for cash consideration in an amount not less than the cost of such fixed or capital asset and is consummated within 90 days after the Borrower or
such Subsidiary acquires or completes the construction of such fixed or capital asset; provided that the amount of Attributable Debt in respect of all such Sale and Leaseback Transactions, when taken together with all other Indebtedness
permitted by Section 6.01(a)(x), does not at any time exceed $40,000,000. 
  
 SECTION 6.07. Hedging Agreements. The Borrower will not, and will not permit any of the Subsidiaries to, enter into any Hedging Agreement, other than Hedging Agreements entered into in the ordinary course of
business to hedge or mitigate risks to which the Borrower or any Subsidiary is exposed in the conduct of its business or the management of its liabilities. 
  
 SECTION 6.08. Restricted Payments; Certain Payments of Indebtedness. (a) The Borrower will not, and will not permit any Subsidiary to, declare
or make, or agree to pay or make, directly or indirectly, any Restricted Payment, or incur any obligation (contingent or otherwise) to do so, except (i) the Borrower may declare and pay dividends with respect to its capital stock payable solely
in additional shares of its common stock, (ii) Subsidiaries may declare and pay dividends ratably with respect to their capital stock, (iii) the Borrower may make Restricted Payments, not exceeding a cumulative aggregate amount of
$15,000,000 pursuant to and in accordance with stock option plans or other benefit plans for management or employees of the Borrower and the Subsidiaries, (iv) the Borrower may pay the Special Dividend, (v) the Borrower may declare and pay
regular quarterly dividends with respect to the Convertible Preferred Stock (payable in cash or shares of Convertible Preferred Stock or common stock of the Borrower) from time to time; provided that, in the case of any cash dividend, no
Default shall have occurred and be continuing at the time such dividend is declared or at the time such dividend is paid (after giving effect to the declaration and making of such dividend), (vi) the Borrower may declare and pay regular
quarterly dividends with respect to its common stock from time to time in an aggregate amount not to exceed $5,000,000 during any fiscal quarter, if (A) no Default shall have occurred and be continuing at the time such dividend is declared or
at the time such dividend is made (after giving effect to the declaration and making of such dividend) and (B) (I) the Required Leverage Ratio shall be satisfied at the time such dividend is declared and at the time such dividend is made and
(II) the Required Fixed Charge Coverage Ratio shall be satisfied at the time such dividend is declared and at the time such dividend is paid; provided that if the Required 

  

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Leverage Ratio and the Required Fixed Charge Coverage Ratio are both satisfied at the time such dividend is declared but not satisfied at the time such
dividend is made, this clause (B) will not prevent the Borrower from paying such dividend if the date of payment of such dividend is no more than 30 days after the date of declaration of such dividend and (vii) the Borrower may acquire
Equity Interests in the Borrower or options with respect thereto in exchange for Equity Interests in the Borrower or options for Equity Interests in the Borrower. 
  
 (b) The Borrower will not, and will not permit any Subsidiary to, make or agree to pay or make, directly or indirectly, any
payment or other distribution (whether in cash, securities or other property) of or in respect of principal of or interest on any Indebtedness, or any payment or other distribution (whether in cash, securities or other property), including any
sinking fund or similar deposit, on account of the purchase, redemption, retirement, acquisition, cancellation or termination of any Indebtedness, except: 
  
 (i) payment of Indebtedness created under the Loan Documents; 
  
 (ii) payment of regularly scheduled interest and principal payments as and when due in respect of any
Indebtedness; 
  
 (iii) refinancings of
Indebtedness to the extent permitted by Section 6.01; and 
  
 (iv) payment of secured Indebtedness that becomes due as a result of the voluntary sale or transfer of the property or assets securing such Indebtedness; and 
  
 (v) prepayments of Capital Lease Obligations with respect to
real estate interests in Stores or with respect to equipment for the purpose of enabling the Borrower or a Subsidiary to acquire such real estate interests or equipment. 
  
 SECTION 6.09. Transactions with Affiliates. The Borrower will not, and will not permit any Subsidiary to, sell, lease
or otherwise transfer any property or assets to, or purchase, lease or otherwise acquire any property or assets from, or otherwise engage in any other transactions with, any of its Affiliates, except (i) transactions in the ordinary course of
business that are at prices and on terms and conditions not less favorable to the Borrower or such Subsidiary than could be obtained on an arm’s-length basis from unrelated third parties, (ii) transactions between or among the Borrower and
the Subsidiaries not involving any other Affiliate, (iii) the performance and payment by the Borrower of its obligations under, and other transactions required pursuant to, the Viacom Agreements and (iv) Restricted Payments permitted
pursuant to Section 6.08. 
  
 SECTION 6.10. Restrictive
Agreements. The Borrower will not, and will not permit any Subsidiary to, directly or indirectly, enter into, incur or permit to exist any 

  

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agreement or other arrangement that prohibits, restricts or imposes any condition upon (a) the ability of the Borrower or any Subsidiary to create,
incur or permit to exist any Lien upon any of its property or assets, or (b) the ability of any Subsidiary to pay dividends or other distributions with respect to any shares of its capital stock or to make or repay loans or advances to the
Borrower or any other Subsidiary or to Guarantee Indebtedness of the Borrower or any other Subsidiary; provided that (i) the foregoing shall not apply to restrictions and conditions imposed by law or by any Loan Document or Subordinated
Debt Document, (ii) the foregoing shall not apply to restrictions and conditions existing on the date hereof identified on Schedule 6.10 (but shall apply to any extension or renewal of, or any amendment or modification expanding the scope
of, any such restriction or condition), (iii) the foregoing shall not apply to customary restrictions and conditions contained in agreements relating to the sale of a Subsidiary pending such sale, provided such restrictions and conditions apply
only to the Subsidiary that is to be sold and such sale is permitted hereunder, (iv) clause (a) of the foregoing shall not apply to restrictions or conditions imposed by any agreement relating to secured Indebtedness permitted by this
Agreement if such restrictions or conditions apply only to the property or assets securing such Indebtedness and (v) clause (a) of the foregoing shall not apply to customary provisions in leases restricting the assignment or subletting
thereof. 
  
 SECTION 6.11. Amendment of Material Documents.
The Borrower will not, and will not permit any Subsidiary to, amend, modify or waive any of its rights or increase its obligations under (a) its certificate of incorporation, by-laws or other organizational documents (except as specifically
contemplated in the S-4) in a manner materially adverse to the interests of the Lenders, (b) any Viacom Agreement, if, such amendment, modification, waiver or increase, taken as a whole, results in, or would reasonably be expected to result in,
a material adverse effect on the ability of the Loan Parties, taken as a whole, to perform any of their material obligations under any Loan Document, (c) the Subordinated Debt Documents in a manner materially adverse to the interests of the
Lenders or (d) the terms of the Convertible Preferred Stock in a manner materially adverse to the interests of the Lenders. 
  
 SECTION 6.12. Fixed Charge Coverage Ratio. The Borrower will not permit the Fixed Charge Coverage Ratio for any period of four consecutive fiscal
quarters ending after December 31, 2007 to be less than 1.35 to 1.00. 
  
 SECTION 6.13. Leverage Ratio. (a) The Borrower will not permit the Leverage Ratio as of any date during any period set forth below to exceed the ratio set forth opposite such period: 
  

			
	 Period

	  	Ratio

	 From January 1, 2008 through December 30, 2008
	  	2.75 to 1.00
	 December 31, 2008 and thereafter
	  	2.50 to 1.00

  

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 (b) The Borrower will not, and will not permit any Subsidiary to, create, incur or assume
any Indebtedness or any Attributable Debt in respect of Sale and Leaseback Transactions under Sections 6.01(a)(v), 6.01(a)(vi) or 6.01(a)(vii) on any day from and after the Third Amendment Effective Date through (and including)
December 31, 2007, unless, after giving effect to the creation, incurrence or assumption of such Indebtedness or Attributable Debt, the Leverage Ratio is less than or equal to (a) 3.25 to 1.00, if such date is on or after the Third
Amendment Effective Date but prior to December 31, 2006 and (b) 3.00 to 1.00, if such is on or after December 31, 2006 but prior to January 1, 2008. 
  
 SECTION 6.14. Capital Expenditures. The Borrower will not permit Capital Expenditures (a) for the six-months
ending December 31, 2005 to exceed $75,000,000 or (b) for any fiscal year set forth below to exceed the amount set forth below opposite such fiscal year: 
  

			
	 Fiscal Year Ending
 December 31,

	  	Maximum Amount

	 2006
	  	110,000,000
	 2007
	  	120,000,000
	 2008
	  	130,000,000
	 2009
	  	140,000,000
	 2010
	  	150,000,000

  
 SECTION 6.15.
Consolidated EBITDA. The Borrower will not permit Consolidated EBITDA (a) for the six-month period ending December 31, 2005 to be less than $150,000,000 or (b) for any period of four consecutive fiscal quarters ending during
any period set forth below to be less than the amount set forth below opposite such period: 
  

				
	 Period

	  	Minimum Amount

	 From January 1, 2006 through (and including) December 31, 2006
	  	$	210,000,000
	 From January 1, 2007 through (and including) June 30, 2007
	  	$	235,000,000
	 From July 1, 2007 through (and including) September 30, 2007
	  	$	240,000,000
	 From October 1, 2007 through (and including) December 31, 2007
	  	$	250,000,000

  
 SECTION 6.16.
Deposit and Securities Accounts. From and including the date that is 30 days after the Third Amendment Effective Date, the Borrower will not 

  

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permit on any day the fair market value on such date of cash and cash equivalents held in Deposit and Securities Accounts that are subject to Account Control
Agreements to be less than 95% of the fair market value on such date of Available Cash. 
  
 ARTICLE VII 
  
 Events of
Default 
  
 If any of the following events (“Events of
Default”) shall occur: 
  
 (a) the
Borrower shall fail to pay any principal of any Loan or any reimbursement obligation in respect of any LC Disbursement when and as the same shall become due and payable, whether at the due date thereof or at a date fixed for prepayment thereof or
otherwise; 
  
 (b) the Borrower shall fail to pay
any interest on any Loan or any fee payable under this Agreement, when and as the same shall come due and payable, and such failure shall continue unremedied for a period of five days, or any Loan Party shall fail to pay any other amount (other than
an amount referred to in clause (a) of this Article) payable under this Agreement or any other Loan Document, when and as the same shall become due and payable, and such failure shall continue unremedied for a period of ten days; 
  
 (c) any representation or warranty made or deemed made by or
on behalf of, the Borrower or any Subsidiary in or in connection with any Loan Document or any amendment or modification thereof or waiver thereunder, or in any report, certificate, financial statement or other document furnished in writing pursuant
to or in connection with any Loan Document or any amendment or modification thereof or waiver thereunder, shall prove to have been incorrect in any material respect when made or deemed made; 
  
 (d) the Borrower shall fail to observe or perform any
covenant, condition or agreement contained in Article VI or in Sections 5.01(i), 5.02, 5.04 (with respect to the existence of the Borrower), 5.11 (with respect to the Collateral and Guarantee Requirement being satisfied concerning any new
Domestic Subsidiary or new Significant Foreign Subsidiary being formed or acquired), 5.13, 5.14 or 5.15; 
  
 (e) any Loan Party shall fail to observe or perform any covenant, condition or agreement contained in any Loan Document (other than those
specified in clause (a), (b) or (d) of this Article), and such failure shall continue unremedied for a period of 30 days (or, in the case of Sections 5.01(f), 5.01(g) and 5.01(h), three Business Days) after written notice thereof
from the Administrative Agent to the Borrower (which notice will be given at the request of any Lender); 
  

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 (f) the Borrower or any Material Subsidiary shall fail to make any payment (whether
of principal or interest and regardless of amount) in respect of any Material Indebtedness, when and as the same shall become due and payable after giving effect to any applicable grace periods provided for in the document governing such Material
Indebtedness; 
  
 (g) any event or condition
occurs that results in any Material Indebtedness becoming due prior to its scheduled maturity or that enables or permits (with or without the giving of notice, the lapse of time or both) the holder or holders of any Material Indebtedness or any
trustee or agent on its or their behalf to cause any Material Indebtedness to become due, or to require the prepayment, repurchase, redemption or defeasance thereof, prior to its scheduled maturity; provided that this clause (g) shall
not apply to secured Indebtedness that becomes due as a result of the voluntary sale or transfer of the property or assets securing such Indebtedness; 
  
 (h) an involuntary proceeding shall be commenced or an involuntary petition shall be filed seeking (i) liquidation, reorganization or
other relief in respect of the Borrower or any Material Subsidiary or its debts, or of a substantial part of its assets, under any Federal, state or foreign bankruptcy, insolvency, receivership or similar law now or hereafter in effect or
(ii) the appointment of a receiver, trustee, custodian, sequestrator, conservator or similar official for the Borrower or any Material Subsidiary or for a substantial part of its assets, and, in any such case, such proceeding or petition shall
continue undismissed for 60 days or an order or decree approving or ordering any of the foregoing shall be entered; 
  
 (i) the Borrower or any Material Subsidiary shall (i) voluntarily commence any proceeding or file any petition seeking liquidation,
reorganization or other relief under any Federal, state or foreign bankruptcy, insolvency, receivership or similar law now or hereafter in effect, (ii) consent to the institution of, or fail to contest in a timely and appropriate manner, any
proceeding or petition described in clause (h) of this Article, (iii) apply for or consent to the appointment of a receiver, trustee, custodian, sequestrator, conservator or similar official for the Borrower or any Material Subsidiary or
for a substantial part of its assets, (iv) file an answer admitting the material allegations of a petition filed against it in any such proceeding, (v) make a general assignment for the benefit of creditors or (vi) take any action for
the purpose of effecting any of the foregoing; 
  
 (j) the Borrower or any Material Subsidiary shall become unable, admit in writing its inability or fail generally to pay its debts as they become due; 
  

(k) one or more judgments for the payment of money in an aggregate amount (net of any insurance proceeds the Borrower or any such
Material Subsidiary receives or is reasonably likely to receive within 90 days of such judgment) in excess of $50,000,000 shall be rendered by a court or other authority having jurisdiction against the Borrower or any Material Subsidiary or any

  

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combination thereof and the same shall remain undischarged for a period of 60 consecutive days during which execution shall not be effectively stayed,
or any action shall be legally taken by a judgment creditor to attach or levy upon any assets of the Borrower or any Material Subsidiary to enforce any such judgment; 
  
 (l) an ERISA Event shall have occurred that, in the opinion of the Required Lenders, when taken together
with all other ERISA Events that have occurred, would reasonably be expected to result in a Material Adverse Effect; 
  
 (m) any Guarantee or Lien purported to be created under any Security Document shall cease to be, or shall be asserted by any Loan Party
not to be, a valid Guarantee or a valid and perfected Lien, with the priority required by the applicable Security Document, except in the case of a Lien, as a result of the Administrative Agent’s failure to maintain possession of any stock
certificates delivered to it under the Collateral Agreement; or 
  
 (n) a Change in Control shall occur; 
  
 then, and
in every such event (other than an event with respect to the Borrower described in clause (h) or (i) of this Article), and at any time thereafter during (but only during) the continuance of such event, the Administrative Agent shall at the
request of the Required Lenders or may with the Required Lenders’ written consent, by notice to the Borrower, take either or both of the following actions, at the same or different times: (i) terminate the Commitments, and thereupon
the Commitments shall terminate immediately, and (ii) declare the Loans then outstanding to be due and payable in whole (or in part, in which case any principal not so declared to be due and payable may thereafter be declared to be due and
payable), and thereupon the principal of the Loans so declared to be due and payable, together with accrued interest thereon and all fees and other obligations of the Borrower accrued hereunder, shall become due and payable immediately, without
presentment, demand, protest or other notice of any kind, all of which are hereby waived by the Borrower; and in case of any event with respect to the Borrower described in clause (h) or (i) of this Article, the Commitments shall
automatically terminate and the principal of the Loans then outstanding, together with accrued interest thereon and all fees and other obligations of the Borrower accrued hereunder, shall automatically become due and payable, without presentment,
demand, protest or other notice of any kind, all of which are hereby waived by the Borrower. 
  
 ARTICLE VIII 
  
 The
Administrative Agent 
  
 Each of the Lenders and each Issuing
Bank hereby irrevocably appoints the Administrative Agent as its agent and authorizes the Administrative Agent to take such actions on its behalf and to exercise such powers as are delegated to the Administrative Agent by the terms of the Loan
Documents, together with such actions and powers as are reasonably incidental thereto. In addition, to the extent required under 

  

 94 

 
the laws of any jurisdiction other than the United States, each of the Lenders and the Issuing Banks hereby grants to the Administrative Agent any required
powers of attorney to execute any Security Document governed by the laws of such jurisdiction on such Lender’s or Issuing Bank’s behalf. 
  
 The bank serving as the Administrative Agent hereunder shall have the same rights and powers in its capacity as a Lender as any other Lender and may
exercise the same as though it were not the Administrative Agent, and such bank and its Affiliates may accept deposits from, lend money to and generally engage in any kind of business with the Borrower or any Subsidiary or other Affiliate thereof as
if it were not the Administrative Agent hereunder. 
  
 The
Administrative Agent shall not have any duties or obligations except those expressly set forth in the Loan Documents. Without limiting the generality of the foregoing, (a) the Administrative Agent shall not be subject to any fiduciary or other
implied duties, regardless of whether a Default has occurred and is continuing, (b) the Administrative Agent shall not have any duty to take any discretionary action or exercise any discretionary powers, except discretionary rights and powers
expressly contemplated by the Loan Documents that the Administrative Agent is required to exercise in writing by the Required Lenders (or such other number or percentage of the Lenders as shall be necessary under the circumstances as provided in
Section 9.02), and (c) except as expressly set forth in the Loan Documents, the Administrative Agent shall not have any duty to disclose, and shall not be liable for the failure to disclose, any information relating to the Borrower or any
of the Subsidiaries that is communicated to or obtained by the bank serving as Administrative Agent or any of its Affiliates in any capacity. The Administrative Agent shall not be liable for any action taken or not taken by it with the consent or at
the request of the Required Lenders (or such other number or percentage of the Lenders as shall be necessary under the circumstances as provided in Section 9.02) or in the absence of its own gross negligence or willful misconduct. The
Administrative Agent shall not be deemed to have knowledge of any Default unless and until written notice thereof is given to the Administrative Agent by the Borrower or a Lender, and the Administrative Agent shall not be responsible for or have any
duty to ascertain or inquire into (i) any statement, warranty or representation made in or in connection with any Loan Document, (ii) the contents of any certificate, report or other document delivered thereunder or in connection
therewith, (iii) the performance or observance of any of the covenants, agreements or other terms or conditions set forth in any Loan Document, (iv) the validity, enforceability, effectiveness or genuineness of any Loan Document or any
other agreement, instrument or document, or (v) the satisfaction of any condition set forth in Article IV or elsewhere in any Loan Document, other than to confirm receipt of items expressly required to be delivered to the Administrative
Agent. 
  
 The Administrative Agent shall be entitled to rely
upon, and shall not incur any liability for relying upon, any notice, request, certificate, consent, statement, instrument, document or other writing believed by it to be genuine and to have been signed or sent by the proper Person. The
Administrative Agent also may rely upon any statement made to it orally or by telephone and believed by it to be made by the proper 

  

 95 

 
Person, and shall not incur any liability for relying thereon. The Administrative Agent may consult with legal counsel (who may be counsel for the Borrower),
independent accountants and other experts selected by it, and shall not be liable for any action taken or not taken by it in accordance with the advice of any such counsel, accountants or experts. 
  
 The Administrative Agent may perform any and all its duties and exercise its
rights and powers by or through any one or more sub-agents appointed by the Administrative Agent. The Administrative Agent and any such sub-agent may perform any and all its duties and exercise its rights and powers through their respective Related
Parties. The exculpatory provisions of the preceding paragraphs shall apply to any such sub-agent and to the Related Parties of each Administrative Agent and any such sub-agent, and shall apply to their respective activities in connection with the
syndication of the credit facilities provided for herein as well as activities as Administrative Agent. 
  
 Subject to the appointment and acceptance of a successor to the Administrative Agent as provided in this paragraph, the Administrative Agent may resign at
any time by notifying the Lenders, the Issuing Banks and the Borrower. Upon any such resignation, the Required Lenders shall have the right, with the Borrower’s consent (which consent shall not be unreasonably withheld or delayed), to appoint a
successor. If no successor shall have been so appointed by the Required Lenders and shall have accepted such appointment within 30 days after the retiring Administrative Agent gives notice of its resignation, then the retiring Administrative
Agent may, on behalf of the Lenders and the Issuing Banks, appoint a successor Administrative Agent which shall be a bank with an office in New York, New York, or an Affiliate of any such bank. Upon the acceptance of its appointment as
Administrative Agent hereunder by a successor, such successor shall succeed to and become vested with all the rights, powers, privileges and duties of the retiring Administrative Agent, and the retiring Administrative Agent shall be discharged from
its duties and obligations hereunder. The fees payable by the Borrower to a successor Administrative Agent shall be the same as those payable to its predecessor unless otherwise agreed between the Borrower and such successor. After the
Administrative Agent’s resignation hereunder, the provisions of this Article and Section 9.03 shall continue in effect for the benefit of such retiring Administrative Agent, its sub-agents and their respective Related Parties in respect of
any actions taken or omitted to be taken by any of them while it was acting as Administrative Agent. 
  
 Each Lender acknowledges that it has, independently and without reliance upon the Administrative Agent or any other Lender and based on such documents and
information as it has deemed appropriate, made its own credit analysis and decision to enter into this Agreement. Each Lender also acknowledges that it will, independently and without reliance upon the Administrative Agent or any other Lender and
based on such documents and information as it shall from time to time deem appropriate, continue to make its own decisions in taking or not taking action under or based upon this Agreement, any other Loan Document or related agreement or any
document furnished hereunder or thereunder. 
  

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 The banks (or Affiliates thereof) identified in this Agreement as a “documentation agent” or
“syndication agent” shall not have any right, power, liability, responsibility or duty under this Agreement other than those applicable to all banks herein. 
  
 ARTICLE IX 
  
 Miscellaneous 
  
 SECTION 9.01. Notices. Except in the case of notices and other communications expressly permitted to be given by telephone, all notices and other
communications provided for herein shall be in writing and shall be delivered by hand or overnight courier service, mailed by certified or registered mail or sent by telecopy, as follows: 
  
 (a) if to the Borrower, to it at 1201 Elm Street, Suite
2100; Dallas, Texas 75270, Attention of Treasurer (Telecopy No. 214-854-3599) and if such notice is in respect of a Default or an Event of Default with a copy to the same address, attention of General Counsel (Telecopy 214-854-3677);

  
 (b) if to the Administrative Agent, to
JPMorgan Chase Bank, Loan and Agency Services Group, 1111 Fannin, 10th Floor, Houston, Texas 77002, Attention of Ms. Dakisha Allen (Telecopy No. (713) 750-2666), with a copy to JPMorgan Chase Bank, N.A., 270 Park Avenue, New York, New York
10017, Attention of Mr. Barry Bergman (Telecopy No. (212) 270-6637); 
  
 (c) if to any Issuing Bank, to it at the address most recently specified by it in a notice delivered to the Administrative Agent and the
Borrower; 
  
 (d) if to the Swingline Lender, to
JPMorgan Chase Bank, N.A., Loan and Agency Services Group, 1111 Fannin, 10th Floor, Houston, Texas 77002, Attention of Ms. Dakisha Allen (Telecopy No. (713) 750-2666) with a copy to JPMorgan Chase Bank, N.A., 270 Park Avenue, New York, New
York 10017, Attention of Mr. Barry Bergman (Telecopy No. (212) 270-6637); and 
  
 (e) if to any other Lender, to it at its address (or telecopy number) set forth in its Administrative Questionnaire. 
  
 Any party hereto may change its address or telecopy number for notices and other
communications hereunder by notice to the other parties hereto. All notices and other communications given to any party hereto in accordance with the provisions of this Agreement shall be deemed to have been given on the date of receipt. 

 
 SECTION 9.02. Waivers; Amendments. (a) No failure or delay by
the Administrative Agent, an Issuing Bank or any Lender in exercising any right or power hereunder or under any other Loan Document shall operate as a waiver thereof, nor shall 

  

 97 

 
any single or partial exercise of any such right or power, or any abandonment or discontinuance of steps to enforce such a right or power, preclude any other
or further exercise thereof or the exercise of any other right or power. The rights and remedies of the Administrative Agent, the Issuing Banks and the Lenders hereunder and under the other Loan Documents are cumulative and are not exclusive of any
rights or remedies that they would otherwise have. No waiver of any provision of any Loan Document or consent to any departure by any Loan Party therefrom shall in any event be effective unless the same shall be permitted by paragraph (b) of
this Section, and then such waiver or consent shall be effective only in the specific instance and for the purpose for which given. Without limiting the generality of the foregoing, the making of a Loan or issuance of a Letter of Credit shall not be
construed as a waiver of any Default, regardless of whether the Administrative Agent, any Lender or the applicable Issuing Bank may have had notice or knowledge of such Default at the time. 
  
 (b) Neither this Agreement nor any other Loan Document nor any provision
hereof or thereof may be waived, amended or modified except, in the case of this Agreement, pursuant to an agreement or agreements in writing entered into by the Borrower and the Required Lenders or, in the case of any other Loan Document, pursuant
to an agreement or agreements in writing entered into by the Administrative Agent and the Loan Party or Loan Parties that are parties thereto, in each case with the consent of the Required Lenders; provided that no such agreement shall
(i) increase the Commitment of any Lender without the written consent of such Lender, (ii) reduce the principal amount of any Loan or LC Disbursement or reduce the rate of interest thereon, or reduce any fees payable hereunder, without the
written consent of each Lender affected thereby, (iii) postpone the maturity of any Loan, or any scheduled date of payment of the principal amount of any Term Loan under Section 2.11, or the required date of reimbursement of any LC
Disbursement, or any date for the payment of any interest or fees payable hereunder, or reduce the amount of, waive or excuse any such payment, or postpone the scheduled date of expiration or reduction of any Commitment, without the written consent
of each Lender affected thereby, (iv) change Section 2.19(b) or (c) in a manner that would alter the pro rata sharing of payments required thereby, without the written consent of each affected Lender, (v) change any of the
provisions of this Section or the percentage set forth in the definition of “Required Lenders” or any other provision of any Loan Document specifying the number or percentage of Lenders (or Lenders of any Class) required to waive, amend or
modify any rights thereunder or make any determination or grant any consent thereunder, without the written consent of each Lender (or each Lender of such Class, as the case may be), (vi) release any Subsidiary Loan Party from its Guarantee
under the Collateral Agreement (except as expressly provided in the Collateral Agreement), or limit its liability in respect of such Guarantee, without the written consent of each Lender, (vii) release all or any substantial part of the
Collateral from the Liens of the Security Documents, without the written consent of each Lender, or (viii) change any provisions of any Loan Document in a manner that by its terms adversely affects the rights in respect of payments due to
Lenders holding Loans of any Class differently than those holding Loans of any other Class, without the written consent of Lenders holding a majority in interest of the 

  

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outstanding Loans and unused Commitments of each affected Class; provided further that (a) no such agreement shall amend, modify or otherwise
affect the rights or duties of the Administrative Agent, an Issuing Bank or the Swingline Lender without the prior written consent of the Administrative Agent, such Issuing Bank or the Swingline Lender, as the case may be, and (b) any waiver,
amendment or modification of this Agreement that by its terms affects the rights or duties under this Agreement of one Class of Lenders (but not any other Class of Lenders) may be effected by an agreement or agreements in writing entered into by the
Borrower and requisite percentage in interest of the affected Class of Lenders that would be required to consent thereto under this Section if such Class of Lenders were the only Class of Lenders hereunder at the time. Notwithstanding the foregoing,
any provision of this Agreement may be amended by an agreement in writing entered into by the Borrower, the Required Lenders and the Administrative Agent (and, if their rights or obligations are affected thereby, the Issuing Banks and the Swingline
Lender) if (i) by the terms of such agreement the Commitment of each Lender not consenting to the amendment provided for therein shall terminate upon the effectiveness of such amendment and (ii) at the time such amendment becomes
effective, each Lender not consenting thereto receives payment (including pursuant to an assignment to a replacement Lender in accordance with Section 9.04) in full of the principal of and interest accrued on each Loan made by it and all other
amounts owing to it or accrued for its account under this Agreement. 
  
 SECTION 9.03. Expenses; Indemnity; Damage Waiver. (a) The Borrower shall pay (i) all reasonable out-of-pocket expenses incurred by the Administrative Agent and its Affiliates, including the reasonable fees, charges and
disbursements of one counsel, in connection with the syndication of the credit facilities provided for herein, the preparation and administration of the Loan Documents or any amendments, modifications or waivers of the provisions thereof (whether or
not the transactions contemplated hereby or thereby shall be consummated), (ii) all reasonable out-of-pocket expenses incurred by the Issuing Banks in connection with the issuance, amendment, renewal or extension of any Letter of Credit or any
demand for payment thereunder and (iii) all reasonable out-of-pocket expenses incurred by the Administrative Agent, the Issuing Banks or any Lender, including the reasonable fees, charges and disbursements of any counsel for the Administrative
Agent, the Issuing Banks or any Lender, in connection with the enforcement or protection of its rights in connection with the Loan Documents, including its rights under this Section, or in connection with the Loans made or Letters of Credit issued
hereunder, including all such reasonable out-of-pocket expenses incurred during any workout, restructuring or negotiations in respect of such Loans or Letters of Credit. 
  
 (b) The Borrower shall indemnify the Administrative Agent, the Issuing Banks and each Lender, and each Related Party of any
of the foregoing Persons (each such Person being called an “Indemnitee”) against, and hold each Indemnitee harmless from, any and all losses, claims, damages, liabilities and related expenses, including the fees, charges and
disbursements of any counsel for any Indemnitee, incurred by or asserted against any Indemnitee arising out of, in connection with, or as a result of (i) the execution or delivery of any Loan Document or any other agreement or instrument

  

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contemplated hereby, the performance by the parties to the Loan Documents of their obligations thereunder or the consummation of the Transactions or any
other transactions contemplated hereby, (ii) any Loan, Letter of Credit or the use of the proceeds therefrom (including any refusal by an Issuing Bank to honor a demand for payment under a Letter of Credit if the documents presented in
connection with such demand do not strictly comply with the terms of such Letter of Credit), (iii) any actual or alleged presence or release of Hazardous Materials on or from any property currently or formerly owned or operated by the Borrower
or any of the Subsidiaries, or any Environmental Liability related in any way to the Borrower or any of the Subsidiaries, or (iv) any actual or prospective claim, litigation, investigation or proceeding relating to any of the foregoing, whether
based on contract, tort or any other theory and regardless of whether any Indemnitee is a party thereto; provided that such indemnity shall not, as to any Indemnitee, be available to the extent that such losses, claims, damages, liabilities
or related expenses are determined by a court of competent jurisdiction by final and nonappealable judgment to have resulted from the gross negligence, bad faith or willful misconduct of such Indemnitee. 
  
 (c) To the extent that the Borrower fails to pay any amount required to be
paid by it to the Administrative Agent, an Issuing Bank or the Swingline Lender under paragraph (a) or (b) of this Section, each Lender severally agrees to pay to the Administrative Agent, the applicable Issuing Bank or the Swingline
Lender, as the case may be, such Lender’s pro rata share (determined as of the time that the applicable unreimbursed expense or indemnity payment is sought) of such unpaid amount; provided that the unreimbursed expense or indemnified
loss, claim, damage, liability or related expense, as the case may be, was incurred by or asserted against the Administrative Agent, the applicable Issuing Bank or the Swingline Lender in its capacity as such. For purposes hereof, a Lender’s
“pro rata share” shall be determined based upon its share of the sum of the aggregate Revolving Exposures, outstanding Term Loans and unused Commitments at the time. 
  
 (d) To the extent permitted by applicable law, the Borrower shall not assert, and the Borrower hereby waives, any claim
against any Indemnitee, on any theory of liability, for special, indirect, consequential or punitive damages (as opposed to direct or actual damages) arising out of, in connection with, or as a result of, this Agreement or any agreement or
instrument contemplated hereby, the Transactions, any Loan, Letter of Credit or the use of the proceeds thereof. 
  
 (e) All amounts due under this Section shall be payable not later than 10 days after written demand therefor. 
  
 SECTION 9.04. Successors and Assigns. (a) The provisions of this
Agreement shall be binding upon and inure to the benefit of the parties hereto and their respective successors and assigns permitted hereby (including any Affiliate of an Issuing Bank that issues any Letter of Credit), except that the Borrower may
not assign or otherwise transfer any of its rights or obligations hereunder without the prior written consent of each Lender (and any attempted assignment or transfer by the Borrower 

  

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without such consent shall be null and void). Nothing in this Agreement, expressed or implied, shall be construed to confer upon any Person (other than the
parties hereto, their successors and assigns permitted hereby (including any Affiliate of an Issuing Bank that issues any Viacom LC or other Letter of Credit) and, to the extent expressly contemplated hereby, the Related Parties of each of the
Administrative Agent, the Issuing Banks and the Lenders) any legal or equitable right, remedy or claim under or by reason of this Agreement. 
  
 (b) (i) Subject to the conditions set forth in paragraph (b)(ii) below, any Lender may assign to one or more assignees all or a portion of its rights
and obligations under this Agreement (including all or a portion of its Commitment and the Loans at the time owing to it) with the prior written consent (such consent not to be unreasonably withheld) of: 
  
 (A) the Borrower, provided that no consent of the
Borrower shall be required for (1) an assignment of any Term Loan to a Lender, an Affiliate of a Lender, or an Approved Fund, (2) an assignment of a Revolving Commitment to a Revolving Lender or (3) if an Event of Default under
paragraph (a), (b), (h) or (i) of Article VII has occurred and is continuing, any such assignment to any other assignee; and 
  
 (B) the Administrative Agent and each Principal Issuing Bank, provided that no consent of the Administrative Agent or any Principal
Issuing Bank shall be required for an assignment of any Term Loan to a Lender, an Affiliate of a Lender or an Approved Fund. 
  
 (ii) Assignments shall be subject to the following additional conditions: 
  
 (A) except in the case of an assignment to a Lender, an Affiliate of a Lender or an Approved Fund or an
assignment of the entire remaining amount of the assigning Lender’s Commitment or Loans of any Class, the amount of the Commitment or Loans of the assigning Lender subject to each such assignment shall not be less than $3,000,000 in the case of
a Revolving Commitment or $1,000,000 in all other cases, unless each of the Borrower and the Administrative Agent otherwise consents, provided that no such consent of the Borrower shall be required if an Event of Default under
paragraph (a), (b), (h) or (i) of Article VII has occurred and is continuing: 
  
 (B) each partial assignment shall be made as an assignment of a proportionate part of all the assigning Lender’s rights and
obligations under this Agreement, provided that this clause shall not be construed to prohibit the assignment of a proportionate part of all the assigning Lender’s rights and obligations in respect of one Class of Commitments or Loans or
apply to rights in respect of outstanding Competitive Loans; 
  

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 (C) the parties to each assignment shall execute and deliver to the Administrative Agent
an Assignment and Acceptance, together with a processing and recordation fee of $3,500; and 
  
 (D) the assignee, if it shall not be a Lender, shall deliver to the Administrative Agent an Administrative Questionnaire. 
  
 For the purposes of this Section 9.04(b), the term “Approved
Fund” has the following meaning: 
  
 “Approved
Fund” means any Person (other than a natural person) that is engaged in making, purchasing, holding or investing in bank loans and similar extensions of credit in the ordinary course of its business and that is administered or managed by
(a) a Lender, (b) an Affiliate of a Lender or (c) an entity or an Affiliate of an entity that administers or manages a Lender. 
  
 (iii) Subject to acceptance and recording thereof pursuant to paragraph (d) of this Section, from and after the effective date
specified in each Assignment and Acceptance the assignee thereunder shall be a party hereto and, to the extent of the interest assigned by such Assignment and Acceptance, have the rights and obligations of a Lender under this Agreement, and the
assigning Lender thereunder shall, to the extent of the interest assigned by such Assignment and Acceptance, be released from its obligations under this Agreement (and, in the case of an Assignment and Acceptance covering all of the assigning
Lender’s rights and obligations under this Agreement, such Lender shall cease to be a party hereto but shall continue to be entitled to the benefits of Sections 2.16, 2.17, 2.18 and 9.03). Any assignment or transfer by a Lender of rights
or obligations under this Agreement that does not comply with this paragraph shall be treated for purposes of this Agreement as a sale by such Lender of a participation in such rights and obligations in accordance with paragraph (e) of this
Section. 
  
 (c) The Administrative Agent, acting for this purpose
as an agent of the Borrower, shall maintain at one of its offices in The City of New York a copy of each Assignment and Acceptance delivered to it and a register for the recordation of the names and addresses of the Lenders, and the Commitment of,
and principal amount of the Loans and LC Disbursements owing to, each Lender pursuant to the terms hereof from time to time (the “Register”). The entries in the Register shall be conclusive, and the Borrower, the Administrative
Agent, the Issuing Banks and the Lenders may treat each Person whose name is recorded in the Register pursuant to the terms hereof as a Lender hereunder for all purposes of this Agreement, notwithstanding notice to the contrary. The Register shall
be available for inspection by the Borrower, the Issuing Banks and any Lender, at any reasonable time and from time to time upon reasonable prior notice. 
  

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 (d) Upon its receipt of a duly completed Assignment and Acceptance executed by an assigning Lender and an
assignee, the assignee’s completed Administrative Questionnaire (unless the assignee shall already be a Lender hereunder), the processing and recordation fee referred to in paragraph (b) of this Section and any written consent to such
assignment required by paragraph (b) of this Section, the Administrative Agent shall accept such Assignment and Acceptance and record the information contained therein in the Register. No assignment shall be effective for purposes of this
Agreement unless it has been recorded in the Register as provided in this paragraph. 
  
 (e) Any Lender may, without the consent of the Borrower, the Administrative Agent, the Issuing Banks or the Swingline Lender, sell participations to one or more banks or other entities (a
“Participant”) in all or a portion of such Lender’s rights and obligations under this Agreement (including all or a portion of its Commitment and the Loans owing to it); provided that (i) such Lender’s
obligations under this Agreement shall remain unchanged, (ii) such Lender shall remain solely responsible to the other parties hereto for the performance of such obligations and (iii) the Borrower, the Administrative Agent, the Issuing
Banks and the other Lenders shall continue to deal solely and directly with such Lender in connection with such Lender’s rights and obligations under this Agreement. Any agreement or instrument pursuant to which a Lender sells such a
participation shall provide that such Lender shall retain the sole right to enforce the Loan Documents and to approve any amendment, modification or waiver of any provision of the Loan Documents; provided that such agreement or instrument may
provide that such Lender will not, without the consent of the Participant, agree to any amendment, modification or waiver described in the first proviso to Section 9.02(b) that affects such Participant. Subject to paragraph (f) of this
Section, the Borrower agrees that each Participant shall be entitled to the benefits of Sections 2.16, 2.17 and 2.18 to the same extent as if it were a Lender and had acquired its interest by assignment pursuant to paragraph (b) of this
Section. To the extent permitted by law, each Participant also shall be entitled to the benefits of Section 9.08 as though it were a Lender, provided such Participant agrees to be subject to Section 2.19(c) as though it were a Lender.

  
 (f) A Participant shall not be entitled to receive any greater
payment under Section 2.16 or 2.18 than the applicable Lender would have been entitled to receive with respect to the participation sold to such Participant, unless the sale of the participation to such Participant is made with the
Borrower’s prior written consent. A Participant that would be a Foreign Lender if it were a Lender shall not be entitled to the benefits of Section 2.18 unless the Borrower is notified of the participation sold to such Participant and such
Participant agrees, for the benefit of the Borrower, to comply with Section 2.18(e) as though it were a Lender. 
  
 (g) Any Lender may at any time pledge or assign a security interest in all or any portion of its rights under this Agreement to secure obligations of such
Lender, including any pledge or assignment to secure obligations to a Federal Reserve Bank, and this Section shall not apply to any such pledge or assignment of a security interest; provided that no such pledge or assignment of a security
interest shall release a Lender from any of its obligations hereunder or substitute any such pledgee or assignee for such Lender as a party hereto. 
  

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 SECTION 9.05. Survival. All covenants, agreements, representations and warranties made by the Loan
Parties in the Loan Documents and in the certificates or other instruments delivered in connection with or pursuant to this Agreement or any other Loan Document shall be considered to have been relied upon by the other parties hereto and shall
survive the execution and delivery of the Loan Documents and the making of any Loans and issuance of any Letters of Credit, regardless of any investigation made by any such other party or on its behalf and notwithstanding that the Administrative
Agent, the Issuing Banks or any Lender may have had notice or knowledge of any Default or incorrect representation or warranty at the time any credit is extended hereunder, and shall continue in full force and effect as long as the principal of or
any accrued interest on any Loan or any fee or any other amount payable under this Agreement is outstanding and unpaid or any Letter of Credit is outstanding and so long as the Commitments have not expired or terminated. The provisions of Sections
2.16, 2.17, 2.18 and 9.03 and Article VIII shall survive and remain in full force and effect regardless of the consummation of the transactions contemplated hereby, the repayment of the Loans, the expiration or termination of the Letters of Credit
and the Commitments or the termination of this Agreement or any provision hereof. 
  
 SECTION 9.06. Counterparts; Integration; Effectiveness. This Agreement may be executed in counterparts (and by different parties hereto on different counterparts), each of which shall constitute an original,
but all of which when taken together shall constitute a single contract. This Agreement, the other Loan Documents and any separate letter agreements with respect to fees or expense reimbursements payable to the Administrative Agent or any arranger
of the credit facilities contemplated hereby constitute the entire contract among the parties relating to the subject matter hereof and supersede any and all previous agreements and understandings, oral or written, relating to the subject matter
hereof. Except as provided in Section 4.01, this Agreement shall become effective when it shall have been executed by the Administrative Agent and when the Administrative Agent shall have received counterparts hereof which, when taken together,
bear the signatures of each of the other parties hereto, and thereafter shall be binding upon and inure to the benefit of the parties hereto and their successors and assigns. Delivery of an executed counterpart of a signature page of this Agreement
by telecopy shall be effective as delivery of a manually executed counterpart of this Agreement. 
  
 SECTION 9.07. Severability. Any provision of this Agreement held to be invalid, illegal or unenforceable in any jurisdiction shall, as to such
jurisdiction, be ineffective to the extent of such invalidity, illegality or unenforceability without affecting the validity, legality and enforceability of the remaining provisions hereof; and the invalidity of a particular provision in a
particular jurisdiction shall not invalidate such provision in any other jurisdiction. 
  

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 SECTION 9.08. Right of Setoff. If an Event of Default shall have occurred and be continuing, each
Lender and each of its Affiliates is hereby authorized at any time and from time to time, to the fullest extent permitted by law, to set off and apply any and all deposits (general or special, time or demand, provisional or final) at any time held
and other obligations at any time owing by such Lender or Affiliate to or for the credit or the account of the Borrower against any of and all the obligations of the Borrower now or hereafter existing under this Agreement held by such Lender,
irrespective of whether or not such Lender shall have made any demand under this Agreement and although such obligations may be unmatured. The rights of each Lender under this Section are in addition to other rights and remedies (including other
rights of setoff) which such Lender may have. 
  
 SECTION 9.09.
Governing Law; Jurisdiction; Consent to Service of Process. (a) This Agreement shall be construed in accordance with and governed by the law of the State of New York. 
  
 (b) The Borrower hereby irrevocably and unconditionally submits, for itself and its property, to the nonexclusive
jurisdiction of the Supreme Court of the State of New York sitting in New York County and of the United States District Court of the Southern District of New York, and any appellate court from any thereof, in any action or proceeding arising out of
or relating to any Loan Document, or for recognition or enforcement of any judgment, and each of the parties hereto hereby irrevocably and unconditionally agrees that all claims in respect of any such action or proceeding may be heard and determined
in such New York State or, to the extent permitted by law, in such Federal court. Each of the parties hereto agrees that a final judgment in any such action or proceeding shall be conclusive and may be enforced in other jurisdictions by suit on
the judgment or in any other manner provided by law. Nothing in this Agreement or any other Loan Document shall affect any right that the Administrative Agent, the Issuing Banks or any Lender may otherwise have to bring any action or proceeding
relating to this Agreement or any other Loan Document against the Borrower or its properties in the courts of any jurisdiction. 
  
 (c) The Borrower hereby irrevocably and unconditionally waives, to the fullest extent it may legally and effectively do so, any objection which it may now
or hereafter have to the laying of venue of any suit, action or proceeding arising out of or relating to this Agreement or any other Loan Document in any court referred to in paragraph (b) of this Section. Each of the parties hereto hereby
irrevocably waives, to the fullest extent permitted by law, the defense of an inconvenient forum to the maintenance of such action or proceeding in any such court. 
  
 (d) Each party to this Agreement irrevocably consents to service of process in the manner provided for notices in
Section 9.01, such service to be effective upon receipt. Nothing in this Agreement or any other Loan Document will affect the right of any party to this Agreement to serve process in any other manner permitted by law. 
  

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 SECTION 9.10. WAIVER OF JURY TRIAL. EACH PARTY HERETO HEREBY WAIVES, TO THE FULLEST EXTENT
PERMITTED BY APPLICABLE LAW, ANY RIGHT IT MAY HAVE TO A TRIAL BY JURY IN ANY LEGAL PROCEEDING DIRECTLY OR INDIRECTLY ARISING OUT OF OR RELATING TO THIS AGREEMENT OR ANY OTHER LOAN DOCUMENT (WHETHER BASED ON CONTRACT, TORT OR ANY OTHER THEORY). EACH
PARTY HERETO (A) CERTIFIES THAT NO REPRESENTATIVE, AGENT OR ATTORNEY OF ANY OTHER PARTY HAS REPRESENTED, EXPRESSLY OR OTHERWISE, THAT SUCH OTHER PARTY WOULD NOT, IN THE EVENT OF LITIGATION, SEEK TO ENFORCE THE FOREGOING WAIVER AND
(B) ACKNOWLEDGES THAT IT AND THE OTHER PARTIES HERETO HAVE BEEN INDUCED TO ENTER INTO THIS AGREEMENT BY, AMONG OTHER THINGS, THE MUTUAL WAIVERS AND CERTIFICATIONS IN THIS SECTION. 
  
 SECTION 9.11. Headings. Article and Section headings and the Table of Contents used herein are for convenience of
reference only, are not part of this Agreement and shall not affect the construction of, or be taken into consideration in interpreting, this Agreement. 
  
 SECTION 9.12. Confidentiality. Each of the Administrative Agent, the Issuing Banks and the Lenders agrees to maintain the confidentiality of the
Information (as defined below), except that Information may be disclosed (a) to its and its Affiliates’ directors, officers, employees and agents, including accountants, legal counsel and other advisors (it being understood that the
Persons to whom such disclosure is made will be informed of the confidential nature of such Information and instructed to keep such Information confidential), (b) to the extent requested by any regulatory authority, (c) to the extent
required by applicable laws or regulations or by any subpoena or similar legal process (in which case such Person thereby required agrees to inform the Borrower prior to such disclosure), (d) to any other party to this Agreement, (e) in
connection with the exercise of any remedies hereunder or any suit, action or proceeding relating to this Agreement or any other Loan Document or the enforcement of rights hereunder or thereunder, (f) subject to an agreement containing
provisions substantially the same as those of this Section, to any assignee of or Participant in, or any prospective assignee of or Participant in, any of its rights or obligations under this Agreement, (g) with the prior written consent of the
Borrower or (h) to the extent such Information becomes publicly available other than as a result of a breach of this Section. For the purposes of this Section, “Information” means all information received from the Borrower
relating to the Borrower or its business, other than any such information that is publicly available. Any Person required to maintain the confidentiality of Information as provided in this Section shall be considered to have complied with its
obligation to do so if such Person has exercised the same degree of care to maintain the confidentiality of such Information as a commercially prudent Person would accord to its own confidential information. 
  
 SECTION 9.13. Interest Rate Limitation. Notwithstanding anything
herein to the contrary, if at any time the interest rate applicable to any Loan, together with all fees, charges and other amounts which are treated as interest on such Loan under 

  

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applicable law (collectively the “Charges”), shall exceed the maximum lawful rate (the “Maximum Rate”) which may be
contracted for, charged, taken, received or reserved by the Lender holding such Loan in accordance with applicable law, the rate of interest payable in respect of such Loan hereunder, together with all Charges payable in respect thereof, shall be
limited to the Maximum Rate and, to the extent lawful, the interest and Charges that would have been payable in respect of such Loan but were not payable as a result of the operation of this Section shall be cumulated and the interest and Charges
payable to such Lender in respect of other Loans or periods shall be increased (but not above the Maximum Rate therefor) until such cumulated amount, together with interest thereon at the Federal Funds Effective Rate to the date of repayment, shall
have been received by such Lender. 
  
 SECTION 9.14. Patriot
Act. The Lenders hereby notify the Borrower that pursuant to the requirements of the USA PATRIOT Act (Title III of Pub. L. 107-56 (signed into law October 26, 2001)) (the “Patriot Act”), they may be required to obtain, verify and
record information that identifies the Borrower, which information includes the name and address of the Borrower and other information that will allow each Lender to identify the Borrower in accordance with the Patriot Act. This notice is given in
accordance with the requirements of the Patriot Act and is effective for each Lender. 
  

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 IN WITNESS WHEREOF, the parties hereto have caused this Agreement to be duly executed by their respective
authorized officers as of the day and year first above written. 
  

			
	BLOCKBUSTER INC.,
		
	by	 	  

	Name:	 	 
	Title:	 	 

  

			
	 JPMORGAN CHASE BANK, N.A.,
 individually and
as Administrative and
 Collateral Agent,

		
	by	 	  

	Name:	 	 
	Title:	 	 

  

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