Document:

EX-4.4

 Exhibit 4.4 
  

 
  

SECOND LIEN CANADIAN SECURITY AGREEMENT 

Dated as of October 20, 2016 

from 
 THE GRANTORS REFERRED TO
HEREIN 
 to 
 U.S. BANK
NATIONAL ASSOCIATION, 
 as Notes Collateral Agent 
  

 
  

 TABLE OF CONTENTS 
  

							
	 	  	 	  	Page	 
		
	 ARTICLE I DEFINITIONS
	  	 	1	  
			
	 Section 1.1
	  	 Terms Defined in Indenture
	  	 	1	  
	 Section 1.2
	  	 Terms Defined in PPSA or STA
	  	 	1	  
	 Section 1.3
	  	 Terms Generally
	  	 	1	  
	 Section 1.4
	  	 Definitions of Certain Terms Used Herein
	  	 	2	  
		
	 ARTICLE II GRANT OF SECURITY INTEREST
	  	 	4	  
		
	 ARTICLE III REPRESENTATIONS AND WARRANTIES
	  	 	6	  
			
	 Section 3.1
	  	 Title, Perfection and Priority
	  	 	6	  
	 Section 3.2
	  	 Type and Jurisdiction of Organization, Organizational and Identification
Numbers
	  	 	8	  
	 Section 3.3
	  	 Principal Location
	  	 	8	  
	 Section 3.4
	  	 Reserved
	  	 	8	  
	 Section 3.5
	  	 Reserved
	  	 	8	  
	 Section 3.6
	  	 Exact Names
	  	 	8	  
	 Section 3.7
	  	 Chattel Paper and Instruments
	  	 	8	  
	 Section 3.8
	  	 Reserved
	  	 	8	  
	 Section 3.9
	  	 Reserved
	  	 	8	  
	 Section 3.10
	  	 Intellectual Property
	  	 	8	  
	 Section 3.11
	  	 No Financing Statements or Security Agreements
	  	 	8	  
	 Section 3.12
	  	 Pledged Collateral
	  	 	8	  
	 Section 3.13
	  	 Commercial Claims
	  	 	9	  
		
	 ARTICLE IV COVENANTS
	  	 	9	  
			
	 Section 4.1
	  	 General
	  	 	9	  
	 Section 4.2
	  	 Deposit Accounts
	  	 	11	  
	 Section 4.3
	  	 Reserved
	  	 	11	  
	 Section 4.4
	  	 Delivery of Pledged Collateral
	  	 	11	  
	 Section 4.5
	  	 Uncertificated Pledged Collateral
	  	 	11	  
	 Section 4.6
	  	 Pledged Collateral
	  	 	12	  
	 Section 4.7
	  	 Intellectual Property
	  	 	14	  
	 Section 4.8
	  	 Commercial Claims
	  	 	14	  
		
	 ARTICLE V REMEDIES
	  	 	15	  
			
	 Section 5.1
	  	 Remedies
	  	 	15	  
	 Section 5.2
	  	 Grantors’ Obligations Upon Default
	  	 	17	  
	 Section 5.3
	  	 Grant of Intellectual Property License
	  	 	17	  
		
	 ARTICLE VI ATTORNEY IN FACT; PROXY
	  	 	18	  
			
	 Section 6.1
	  	 [Reserved]
	  	 	18	  
	 Section 6.2
	  	 Authorization for Notes Secured Party to Take Certain Action
	  	 	18	  
	 Section 6.3
	  	 PROXY
	  	 	20	  
	 Section 6.4
	  	 NATURE OF APPOINTMENT; LIMITATION OF DUTY
	  	 	20	  

							
		
	 ARTICLE VII GENERAL PROVISIONS
	  	 	20	  
			
	 Section 7.1
	  	 Waivers
	  	 	20	  
	 Section 7.2
	  	 Limitation on Notes Collateral Agent’s and Notes Secured Party’s Duty with Respect to
the Collateral
	  	 	21	  
	 Section 7.3
	  	 Compromises and Collection of Collateral
	  	 	22	  
	 Section 7.4
	  	 Notes Secured Party Performance of Debtor Obligations
	  	 	22	  
	 Section 7.5
	  	 No Waiver; Amendments; Cumulative Remedies
	  	 	23	  
	 Section 7.6
	  	 Limitation by Law; Severability of Provisions
	  	 	23	  
	 Section 7.7
	  	 Reinstatement
	  	 	23	  
	 Section 7.8
	  	 Benefit of Agreement
	  	 	23	  
	 Section 7.9
	  	 Survival of Representations
	  	 	24	  
	 Section 7.10
	  	 Taxes and Expenses
	  	 	24	  
	 Section 7.11
	  	 Additional Grantors
	  	 	24	  
	 Section 7.12
	  	 Headings
	  	 	24	  
	 Section 7.13
	  	 Termination or Release
	  	 	24	  
	 Section 7.14
	  	 Entire Agreement
	  	 	25	  
	 Section 7.15
	  	 CHOICE OF LAW
	  	 	25	  
	 Section 7.16
	  	 Consent to Jurisdiction
	  	 	25	  
	 Section 7.17
	  	 WAIVER OF JURY TRIAL
	  	 	26	  
	 Section 7.18
	  	 Actions by ABL Collateral Agents
	  	 	26	  
	 Section 7.19
	  	 Counterparts
	  	 	26	  
	 Section 7.20
	  	 INTERCREDITOR AGREEMENT GOVERNS
	  	 	26	  
	 Section 7.21
	  	 [Reserved]
	  	 	26	  
	 Section 7.22
	  	 Mortgages
	  	 	26	  
		
	 ARTICLE VIII NOTICES
	  	 	27	  
			
	 Section 8.1
	  	 Sending Notices
	  	 	27	  
	 Section 8.2
	  	 Change in Address for Notices
	  	 	27	  
		
	 ARTICLE IX THE NOTES COLLATERAL AGENT
	  	 	27	  
		
	SCHEDULE:	  			
			
	 Schedule 1
	  	 Pledged Collateral
	  			
	 Schedule 2
	  	 Filing Offices
	  			
	 Schedule 3
	  	 Entity Types; Jurisdiction of Organization, Identification Numbers
	  			
	 Schedule 4
	  	 Chief Executive Offices; Principal Mailing Addresses
	  			
	 Schedule 5
	  	 Instruments and Chattel Paper
	  			
	 Schedule 6
	  	 Intellectual Property
	  			
	 Schedule 7
	  	 Commercial Claims
	  			
		
	EXHIBITS:	  			
			
	 Exhibit A
	  	 Form of Joinder
	  			
	 Exhibit B
	  	 Form of Short From Intellectual Property Security Agreement
	  			

 SECOND LIEN CANADIAN SECURITY AGREEMENT 

This SECOND LIEN CANADIAN SECURITY AGREEMENT (this “Canadian Security Agreement”) is entered into as of October 20,
2016, by and among SUNOPTA INC., a Canadian corporation and the direct parent company of the Issuer (as defined below) (the “Company”), SUNOPTA INVESTMENTS LTD. (“SunOpta Investments”)
and certain other Canadian Subsidiaries (as defined below) of the Company from time to time party hereto (each a “Subsidiary Grantor” and, collectively, the “Subsidiary Grantors”; the Subsidiary Grantors, together
with the Company and SunOpta Investments, collectively, the “Grantors”) and U.S. BANK NATIONAL ASSOCIATION, in its capacity as collateral agent for the Notes Secured Parties (as defined in the Indenture referred to
below) (in such capacity, the “Notes Collateral Agent”; as further defined in the Indenture referred to below). 

PRELIMINARY STATEMENTS 

WHEREAS, the Company, SunOpta Foods Inc. (the “Issuer”) and certain of their Subsidiaries entered into that certain
Indenture dated as of the date hereof (the “Indenture”), among the Company, the Issuer, certain Subsidiaries of the Company and U.S. Bank National Association, in its capacities as Trustee and as Notes Collateral Agent; and 

WHEREAS, each Grantor will derive substantial direct and indirect benefits from the transactions contemplated in the Note Documents.

 ACCORDINGLY, in consideration of these premises, the parties hereto agree as follows: 

ARTICLE I 

DEFINITIONS 
 Section 1.1
Terms Defined in Indenture. All capitalized terms used herein (including terms used in the preamble and preliminary statements) and not otherwise defined herein shall have the meanings assigned to such terms in the Indenture. 

Section 1.2 Terms Defined in PPSA or STA. As used herein, the following terms are defined in accordance with the PPSA or STA, as
applicable: “Account”, “Chattel Paper”, “control”, “Equipment”, “Futures Account, “Goods”, “Instrument”, “Inventory”, “Investment Property”, “Money”,
“Securities Account” and “Security” and any other terms defined in the PPSA or STA, as applicable that are not otherwise defined in this Canadian Security Agreement or the Indenture are used herein as defined in the PPSA or STA,
as applicable. 
 Section 1.3 Terms Generally. The rules of construction and other interpretive provisions specified in
Section 1.04 of the Indenture shall apply to this Canadian Security Agreement, including terms defined in the preamble and preliminary statements hereto. 

 Section 1.4 Definitions of Certain Terms Used Herein. As used in this Canadian
Security Agreement, in addition to the terms defined in the preamble and preliminary statements above, the following terms shall have the following meanings: 

“Account Debtor” shall mean any Person who may become obligated to another Person under, with respect to, or on account of,
an Account. 
 “Article” shall mean a numbered article of this Canadian Security Agreement, unless another document is
specifically referenced. 
 “Canadian Intellectual Property Security Agreements” shall mean the agreements
substantially in the form of the Form of Short Form Canadian Intellectual Property Security Agreement set forth hereto. 
 “Canadian
Subsidiary” shall mean, with respect to any Person, a Subsidiary of such Person organized under the laws of Canada or any province or territory thereof. 

“Collateral” shall have the meaning set forth in Article II. 

“Copyrights” shall mean the following: (a) all copyrights, rights and interests in copyrights, works protectable by
copyright, copyright registrations, and copyright applications; (b) all renewals of any of the foregoing; (c) all income, royalties, damages, and payments now or hereafter due and/or payable under any of the foregoing, including, without
limitation, damages or payments for past or future infringements for any of the foregoing; (d) the right to sue for past, present, and future infringements of any of the foregoing; and (e) all rights corresponding to any of the foregoing
throughout the world. 
 “Deposit Account” shall mean all demand, time, saving, chequing or deposit accounts, Securities
Accounts, collection accounts, lockboxes or other accounts having a depository function maintained with any financial institution. 

“Document” shall mean a “Document of Title”, as such term is defined in the PPSA. 

“Excluded Accounts” shall mean a Deposit Account (i) which is used for the purposes of making payroll and withholding tax
payments related thereto and other employee wage and benefit payments and accrued and unpaid employee compensation (including salaries, wages, bonuses, benefits and expense reimbursements), (ii) which is used for the sole purpose of paying or
remitting taxes, including sales taxes, (iii) which is used solely as an escrow account or as a fiduciary or trust account, (iv) for which the average monthly balance of deposits therein does not exceed $2,500,000 (individually) or (v) containing
solely the proceeds of borrowings or issuances of Indebtedness. 
 “Exhibit” refers to a specific exhibit to this Canadian
Security Agreement, unless another document is specifically referenced. 

  
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 “General Intangible” shall mean an “intangible”, as such term is
defined in the PPSA. 
 “Grantors” shall have the meaning set forth in the preamble hereto. 

“Industrial Designs” shall mean the following: (a) any and all industrial designs and industrial design
applications; (b) all inventions, designs and improvements described and claimed therein; (c) all reissues, divisions, continuations, renewals, extensions, and continuations-in-part thereof; (d) all income, royalties, damages, claims,
and payments now or hereafter due or payable under and with respect thereto, including, without limitation, damages and payments for past and future infringements thereof; (e) all rights to sue for past, present, and future infringements
thereof; and (f) all rights corresponding to any of the foregoing throughout the world. 
 “Intellectual Property”
shall mean all intellectual and similar property of every kind and nature, including worldwide rights in and to (i) Patents, (ii) Trademarks, (iii) Copyrights, (iv) Licenses, (v) computer software, data and databases, (vi) Industrial Designs
and other protections for designs, (vii) inventions, discoveries, trade secrets, know-how and other proprietary or confidential information, and (viii) issuances, registrations or applications for any of the foregoing. 

“Intellectual Property Collateral” shall mean all Intellectual Property now owned or hereafter acquired by any Grantor and
all Licenses, and all right, title and interest of such Grantor therein. 
 “Issuer” shall have the meaning set forth in
the recitals hereto. 
 “Licenses” shall mean (a) any and all written licensing agreements or similar arrangements in
and to Intellectual Property, (b) all income, royalties, damages, claims, and payments now or hereafter due or payable under and with respect thereto, including, without limitation, damages and payments for past and future breaches thereof, and
(c) all rights to sue for past, present, and future breaches thereof. 
 “Patents” shall mean the
following: (a) any and all patents and patent applications; (b) all inventions, designs and improvements described and claimed therein; (c) all reissues, divisions, continuations, renewals, extensions, and continuations-in-part
thereof; (d) all income, royalties, damages, claims, and payments now or hereafter due or payable under and with respect thereto, including, without limitation, damages and payments for past and future infringements thereof; (e) all rights
to sue for past, present, and future infringements thereof; and (f) all rights corresponding to any of the foregoing throughout the world. 

“Payment in Full Date” shall mean the date on which all Indenture Obligations (other than any contingent obligations or
contingent indemnification obligations not then due) are paid in full. 
 “Pledged Collateral” shall mean collectively, (a)
all of the Equity Interests (other than Excluded Assets) held directly by the Grantors in any Subsidiary at any time, (b) each 

  
 - 3 - 

 
promissory note, Chattel Paper and Instrument evidencing Indebtedness (other than intercompany Indebtedness) (other than such promissory notes, Chattel Paper and Instruments that are Excluded
Assets), and (c) the Subordinated Intercompany Note (as such note may be amended from time to time). 
 “PPSA” shall mean
the Personal Property Security Act (Ontario) or, to the extent applicable, similar legislation of any other jurisdiction, as amended from time to time. 

“Receivables” shall mean the Accounts, Chattel Paper, Documents, Investment Property, Instruments and any other rights or
claims to receive money that are General Intangibles or that are otherwise included as Collateral. 
 “Recordable Intellectual
Property” shall have the meaning set forth in Section 3.10. 
 “Section” shall mean a numbered section of
this Canadian Security Agreement, unless another document is specifically referenced. 
 “STA” shall mean the Securities
Transfer Act, 2006 (Ontario) or, to the extent applicable, similar legislation of any other jurisdiction, as amended from time to time. 

“Stock Rights” shall mean all dividends, instruments or other distributions and any other right or property which any Grantor
shall receive or shall become entitled to receive for any reason whatsoever with respect to, in substitution for or in exchange for any Equity Interest constituting Collateral, any right to receive an Equity Interest constituting Collateral and any
right to receive earnings, in which such Grantor now has or hereafter acquires any right, issued by an issuer of such Equity Interest. 

“Trademarks” shall mean the following: (a) all trademarks (including service marks), trade names, trade dress, and
trade styles and the registrations and applications for registration thereof and the goodwill of the business symbolized by the foregoing; (b) all Licenses of the foregoing, whether as licensee or licensor; (c) all renewals of the foregoing;
(d) all income, royalties, damages, and payments now or hereafter due or payable with respect thereto, including, without limitation, damages, claims, and payments for past and future infringements thereof; (e) all rights to sue for past,
present, and future infringements of the foregoing, including the right to settle suits involving claims and demands for royalties owing; and (f) all rights corresponding to any of the foregoing throughout the world. 

ARTICLE II 
 GRANT OF
SECURITY INTEREST 
 Each Grantor hereby pledges, assigns and grants to the Notes Collateral Agent, on behalf of and for the benefit of the
Notes Secured Parties, and to secure the prompt and complete payment and performance of all Indenture Obligations, a security interest in all of its right, title and interest in, to and under all of its present and after-acquired personal property
including, without limitation, the following property and other assets of such Grantor (including under any trade name or derivations thereof), and regardless of where located (all of which are collectively referred to as the
“Collateral”): 
 (a) all Accounts; 

  
 - 4 - 

 (b) all Chattel Paper; 

(c) all Intellectual Property Collateral; 

(d) all Documents; 
 (e) all
Equipment; 
 (f) all fixtures; 

(g) all General Intangibles; 

(h) all Goods; 
 (i) all
Instruments; 
 (j) all Inventory; 

(k) all Investment Property; 

(l) [Reserved]; 
 (m) all
Deposit Accounts; 
 (n) [Reserved]; 

(o) all Money, cash or other property deposited with the Notes Collateral Agent or any Affiliate of the Notes Collateral Agent or which the
Notes Collateral Agent, for its benefit and for the benefit of the other Notes Secured Parties is entitled to retain or otherwise possess as collateral pursuant to the provisions of this Canadian Security Agreement or any of the Note Documents; 

(p) all books, records, files, correspondence, computer programs, tapes, disks and related data processing software which contain information
identifying or pertaining to any of the foregoing or any Account Debtor or showing the amounts thereof or payments thereon or otherwise necessary or helpful in the realization thereon or the collection thereof; and 

(q) any and all accessions to, substitutions for and replacements, products and cash and non-cash proceeds (including Stock Rights) of the
foregoing (including any claims to any items referred to in this definition and any claims against third parties for loss of, damage to or destruction of any or all of the Collateral or for proceeds payable under or unearned premiums with respect to
policies of insurance) in whatever form, including cash, negotiable instruments and other instruments for the payment of money, Chattel Paper, security agreements and other documents. 

  
 - 5 - 

 Notwithstanding the foregoing or anything herein to the contrary, in no event shall the
“Collateral” include or the security interest attach to any (i) Excluded Assets, (ii) consumer goods (as such term is defined in the PPSA), or (iii) the last day of the term of any lease, oral or written, or any agreement therefor, now
held or hereafter acquired by the Grantor, but the Grantor shall stand possessed of such one day remaining, upon trust to assign and dispose of the same as the Notes Collateral Agent or any assignee of such lease or agreement shall direct. If
any such lease or agreement therefor contains a provision which provides in effect that such lease or agreement may not be assigned, sub leased, charged or encumbered without the leave, license, consent or approval of the lessor, the application of
the security interest created hereby to any such lease or agreement shall be conditional upon such leave, license, consent or approval having been obtained. 

Each Grantor acknowledges that (i) value has been given, (ii) it has rights in the Collateral (other than after-acquired Collateral), (iii) it
has not agreed to postpone the time for attachment of the security interest, and (iv) it has received a copy of this Canadian Security Agreement. 

ARTICLE III 

REPRESENTATIONS AND WARRANTIES 

The Grantors, jointly and severally, represent and warrant to the Notes Collateral Agent, for the benefit of the Notes Secured Parties,
subject to the terms of the Intercreditor Agreement, that: 
 Section 3.1 Title, Perfection and Priority. 

(a) Each Grantor has good and valid rights in, or the power to transfer, the Collateral in which it has purported to grant a security interest
hereunder, free and clear of all Liens except for Liens permitted under Section 4.1(e), and has full power and authority to grant to the Notes Collateral Agent the security interest in such Collateral pursuant hereto. This Canadian
Security Agreement is effective to create in favour of the Notes Collateral Agent for the benefit of the Notes Secured Parties a legal, valid and enforceable security interest and Lien (except to the extent that the enforceability thereof may be
subject to applicable bankruptcy, insolvency, reorganization, moratorium or other similar law generally affecting creditors’ rights and by equitable principles (regardless of whether enforcement is sought in equity or at law)) in and on the
Collateral granted by each Grantor in which a security interest or Lien can be created under applicable law. No consent or approval of, registration or filing with, or any other action by any Governmental Authority is required for the grant of
the security interest pursuant to this Canadian Security Agreement, except (i) such as have been obtained or made and are in full force and effect and (ii) for filings necessary to perfect Liens created pursuant to the Note Documents. 

  
 - 6 - 

 (b) Subject to the terms of the Intercreditor Agreement and the limitations set forth in
clause (c) and clause (d) of this Section 3.1, the security interests granted pursuant to this Canadian Security Agreement (i) will constitute valid perfected security interests in the Collateral in favour of the Notes
Collateral Agent, on behalf of and for the benefit of the Notes Secured Parties, to secure the prompt and complete payment and performance of all Indenture Obligations, upon (A) in the case of Collateral in which a security interest may be perfected
by filing a financing statement under the PPSA of any jurisdiction of Canada, the filing of financing statements in the location of each Grantor naming such Grantor as “debtor” and the Notes Collateral Agent as “secured party”
and describing the Collateral in the applicable filing offices in the applicable PPSA jurisdictions as set forth on Schedule 2 hereto, (B) in the case of Instruments, Chattel Paper and certificated Securities, the earlier of the delivery thereof to
the Notes Collateral Agent (or its non-fiduciary agent, designee or bailee) and the filing of the financing statements referred to in clause (A), (C) in the case of Collateral constituting Recordable Intellectual Property, the filing of the
financing statements referred to in clause (A) and the completion of the filing and recording of fully executed agreements substantially in the form of the Canadian Intellectual Property Security Agreement set forth in Exhibit B hereto in (x) the
United States Patent and Trademark Office, (y) the United States Copyright Office or (z) the Canadian Intellectual Property Office, as applicable, and/or (D) in the case of any Deposit Account, upon the entering into of an account control agreement
with respect to such Deposit Account and (ii) are prior to all other Liens on the Collateral other than Liens permitted under Section 4.1(e) having priority over the Notes Collateral Agent’s Lien either by operation of law or otherwise.

 (c) Notwithstanding anything to the contrary herein, no Grantor shall be required to perfect the security interests created hereby by any
means other than (i) filings pursuant to the PPSA, (ii) filings with Canadian or United States’ governmental offices with respect to Recordable Intellectual Property, (iii) in the case of Collateral that constitutes Chattel
Paper, Instruments or certificated Securities, in each case, to the extent included in the Collateral and required to be provided under the provisions of Section 4.4, delivery to the Notes Collateral Agent (or its non-fiduciary agent,
designee or bailee) to be held in its possession in the United States or Canada, (iv) [reserved] and (v) after the discharge in full of all Domestic Priority Debt only, in the case of Collateral that consists of Deposit Accounts (other than Excluded
Accounts) taking the actions specified in Section 4.2. For avoidance of doubt, no Grantor shall be required to deliver control agreements with respect to, or confer perfection by “control” over, any Deposit Accounts, Securities
Accounts or other Collateral (other than Chattel Paper, Instruments and certificated Securities that, in each case, constitutes Collateral (but only to the extent required by Section 4.6 hereof) and Deposit Accounts (but only to the extent required
by Section 4.2 hereof)). 
 (d) Notwithstanding anything to the contrary herein and subject to the limitations set forth in Section
3.1(c) hereof, it is understood and agreed that, at any time prior to the discharge in full of all Domestic Priority Debt, no Grantor shall be required by this Canadian Security Agreement (i) to take any action to perfect or make enforceable the
Liens created hereunder unless it has taken, or is required to take, a comparable action to perfect or make enforceable the Liens of each ABL Collateral Agent created by the ABL Debt Documents or (ii) to take any Excluded Collateral Actions. 

  
 - 7 - 

 Section 3.2 Type and Jurisdiction of Organization, Organizational and Identification
Numbers. The type of entity of each Grantor, its jurisdiction of organization, and the organizational number issued to it by its jurisdiction of organization, in each case as of the Issue Date, are set forth on Schedule 3 hereto. 

Section 3.3 Principal Location. Each Grantor’s principal mailing address, registered office address, chief executive office
address and jurisdictions in which such Grantor conducts business or maintains Collateral, in each case as of the Issue Date, is disclosed on Schedule 4 hereto. 

Section 3.4 Reserved. 

Section 3.5 Reserved. 

Section 3.6 Exact Names. As of the Issue Date, the name in which each Grantor has executed this Canadian Security Agreement is
the exact name as it appears in such Grantor’s organizational documents, as amended, as filed with such Grantor’s jurisdiction of organization 

Section 3.7 Chattel Paper and Instruments. Schedule 5 hereto lists all promissory notes, Instruments (other than cheques to be
deposited in the ordinary course of business), Chattel Paper and other evidence of Indebtedness for borrowed money (other than intercompany Indebtedness) in each case in a principal amount greater than $2,500,000 (individually) held by each
Grantor as of the Issue Date. 
 Section 3.8 Reserved. 

Section 3.9 Reserved. 

Section 3.10 Intellectual Property. As of the Issue Date, no Grantor has any interest in, or title to, any Canadian or United
States federal registered or applied for Patent, Trademark, Industrial Design or Copyright or exclusive license where such Grantor is licensee of a registered Copyright (“Recordable Intellectual Property”) except as set forth in
Schedule 6 hereto. 
 Section 3.11 No Financing Statements or Security Agreements. As of the Issue Date, no Grantor has filed
or consented to the filing of any financing statement or security agreement naming a Grantor as debtor and describing all or any portion of the Collateral that has not lapsed or been (or concurrently with the Issue Date, will be) terminated except
(a) for financing statements or security agreements naming the Notes Collateral Agent, on behalf of the Notes Secured Parties, as the secured party and (b) as permitted by Sections 4.1(e) and 4.1(f). 

Section 3.12 Pledged Collateral. Schedule I hereto sets forth a complete and accurate list, as of the Issue Date, of all of the
Pledged Collateral and, with respect to any Pledged Collateral constituting any Equity Interest, the percentage of the total issued and outstanding Equity Interests of the issuer represented thereby. As of the Issue Date, each Grantor is the
legal and beneficial owner of the Pledged Collateral listed on Schedule I as being owned by it, free and clear of any Liens, except for the security interest granted to the Notes Collateral Agent, for the benefit of the Notes Secured Parties,
hereunder and Liens permitted 

  
 - 8 - 

 
under Section 4.12 of the Indenture. Each Grantor further represents and warrants that, as of the Issue Date, (i) all Pledged Collateral constituting an Equity Interest has been
(to the extent such concepts are relevant with respect to such Pledged Collateral) duly authorized and validly issued by the issuer thereof and are fully paid and non-assessable and (ii) to the best of its knowledge, any Pledged Collateral that
represents Indebtedness owed to any Grantor has been duly authorized, authenticated or issued and delivered by the issuer of such Indebtedness, is the legal, valid and binding obligation of such issuer and such issuer is not in default thereunder.

 Section 3.13 Commercial Claims. As of the Issue Date, no Grantor holds any litigation claims (as plaintiff) having a value
in excess of $2,500,000 for which such Grantor has filed a complaint in a court of competent jurisdiction, except as indicated on Schedule 7 hereto. 

ARTICLE IV 
 COVENANTS

 From the Issue Date, and thereafter until the Payment in Full Date, each Grantor agrees that: 

Section 4.1 General. 

(a) [Reserved].
 (b)
Authorization to File Financing Statements; Ratification. Subject to the Agreed Security Principles and clauses (c) and (d) of Section 3.1 hereof, each Grantor hereby authorizes the Notes Collateral Agent to file, and shall
deliver to the Notes Collateral Agent, all financing statements and other documents and take such other actions as may from time to time be requested by the Notes Collateral Agent in order to maintain a perfected security interest in and, if
applicable, control of, the Collateral. Any financing statement filed by the Notes Collateral Agent may be filed in any filing office in any applicable PPSA jurisdiction and may (i) describe the Collateral in the same manner as described
herein or may contain an indication or description of collateral that describes such property in any other manner such as “all assets” or “all personal property, whether now owned or hereafter acquired” of such Grantor or words
of similar effect as being of an equal or lesser scope or with greater detail, and (ii) contain any other information required by the PPSA for the sufficiency or filing office acceptance of any financing statement or amendment, including
(A) whether such Grantor is an organization, the type of organization and any organization identification number issued to such Grantor and (B) in the case of a financing statement filed as a fixture filing, a sufficient description of
real property to which the Collateral relates. Each Grantor also agrees to furnish any such information to the Notes Collateral Agent promptly upon request. Each Grantor also ratifies its authorization for the Notes Collateral Agent to
have filed in any PPSA jurisdiction any initial financing statements or financing change statements if filed prior to the Issue Date. 
 (c)
Further Assurances. Each Grantor will, if reasonably requested by the Notes Collateral Agent, (i) take or cause to be taken such further actions in accordance with Section 4.17 of the Indenture, (ii) subject to the Agreed Security
Principles and clauses (c) and 

  
 - 9 - 

 
(d) of Section 3.1 hereof, and in accordance with Sections 4.17 of the Indenture, take such other actions as the Notes Collateral Agent reasonably deems appropriate under applicable law to
evidence or perfect its Lien on any Collateral, or otherwise to give effect to the intent of this Canadian Security Agreement and (iii) defend the security interests created hereby and priority thereof against the claims and demands not expressly
permitted by the Note Documents of all Persons whomsoever. 
 (d) Disposition of Collateral. No Grantor will sell, lease,
transfer or otherwise dispose of the Collateral except for sales, leases, transfers and other dispositions that do not constitute Asset Sales or are specifically permitted under Section 4.10 or Section 5.01 of the Indenture. 

(e) Liens. No Grantor will create, incur, or suffer to exist any Lien on the Collateral except (i) the security interest created
by this Canadian Security Agreement, and (ii) Liens permitted by Section 4.12 of the Indenture. 
 (f) Other Financing
Statements. No Grantor will authorize the filing of any financing statement naming it as debtor covering all or any portion of the Collateral, except to cover security interests as permitted by Section 4.1(e). 

(g) Change of Name, Jurisdictions, Etc. Each Grantor agrees to furnish to the Notes Collateral Agent prior written notice of any
change in: (i) such Grantor’s legal name; or (ii) such Grantor’s organizational legal entity designation or jurisdiction of incorporation or formation. Each Grantor further agrees to promptly furnish to the Notes
Collateral Agent (and in any event within ninety (90) days of such change or such longer period as the Notes Collateral Agent may agree) written notice of any change in: (i) such Grantor’s registered office address, chief executive
office address and the jurisdictions in which such Grantor conducts business or maintains Collateral; or (ii) such Grantor’s organizational identification number assigned to it by its jurisdiction of incorporation or formation. In the
event of any change contemplated by this Section 4.1(g), each applicable Grantor shall furnish to the Notes Collateral Agent a draft PPSA financing statement or financing change statement, as the case may be, or such other filings or
recordations as may be necessary, for the Notes Collateral Agent’s approval, to evidence the requisite filings necessary to ensure continuing perfection over such Grantor and over the Collateral of each such Grantor. Once approved by
Collateral Agent and subsequent to the requisite filings/registrations of same, the Grantors shall provide (i) PPSA and Lien searches and other evidence reasonably satisfactory to Agent that such filings or recordations are the only Liens against
such Grantors and on such Collateral except Liens permitted by the Indenture, and (ii) a written opinion of counsel to such Grantor in respect of, among other things, the creation of a valid security interest and the registration of such filings or
recordations. 
 (h) Exercise of Duties. Anything herein to the contrary notwithstanding, (a) the exercise by the Notes
Collateral Agent of any of the rights hereunder shall not release any Grantor from any of its duties or obligations under the contracts and agreements included in the Collateral and (b) no Notes Secured Party shall have any obligation or liability
under the contracts and agreements included in the Collateral by reason of this Canadian Security Agreement or any other Note Document, nor shall any Notes Secured Party be obligated to perform any of the obligations or duties of any Grantor
thereunder or to take any action to collect 

  
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or enforce any claim for payment assigned hereunder. Notwithstanding anything in this Agreement to the contrary, the Notes Collateral Agent has no duty (i) to ensure that the Notes Collateral
Agent’s liens on the Collateral have been properly or sufficiently or lawfully created, perfected, protected, maintained or enforced, (ii) to file or continue any financing statements, or other perfection documents with respect to the
Collateral (other than any financing statement, financing change statement, mortgage or other perfection document that any Grantor delivers to the Notes Collateral Agent for filing pursuant to any provision of the Indenture or this Agreement), under
this Agreement or otherwise, or monitor or review any filings made or (iii) proposed to be made.
 Section 4.2 Deposit
Accounts. Subject to the Agreed Security Principles, after the discharge in full of all Domestic Priority Debt, each applicable Grantor shall use commercially reasonable efforts to execute and deliver a deposit account control agreement
with each applicable depository institution and the Notes Collateral Agent with respect to any Deposit Account (other than any Excluded Account) owned by such Grantor that constitutes Collateral and is maintained by a depository institution other
than the Notes Collateral Agent no later than the latest of (x) the date that is ninety (90) days after the Issue Date, (y) the date that is ninety (90) days after such Deposit Account is established and (z) the date that is ninety (90) days after
the discharge in full of all Domestic Priority Debt secured by the Collateral (in each of clauses (x), (y) and (z), if not delivered by such date, as soon thereafter as reasonably practicable (in the good faith determination of the
Company)). Each deposit account control agreement required pursuant to this Section 4.2 shall provide for the applicable depository institution’s agreement that, upon notice by the Notes Collateral Agent (which notice shall be given only
after the occurrence and during the continuance of an Event of Default and after written notice thereof to the Grantors), it will comply with instructions originated by the Notes Collateral Agent directing the disposition of the funds in the Deposit
Account without further consent by the applicable Grantor. In addition, the Notes Collateral Agent shall not be required to enter into any agreement that re-quires the Notes Collateral Agent or the Trustee to indemnify any person from its own
personal assets, or that may involve the Notes Collateral Agent or the Trustee in personal liability. 
 Section 4.3 Reserved. 

Section 4.4 Delivery of Pledged Collateral. Subject to the Intercreditor Agreement and except as permitted by the Indenture
(including, for the avoidance of doubt, the Agreed Security Principles), after the discharge in full of all Domestic Priority Debt, the Grantors shall (upon receipt from the applicable ABL Collateral Agent), or shall use commercially reasonable
efforts to cause each ABL Collateral Agent to, promptly deliver to the Notes Collateral Agent all certificates or instruments, if any, representing or evidencing the Pledged Collateral (other than checks received by it in the ordinary course of
business), together with duly executed instruments of transfer or assignment in blank. 
 Section 4.5 Uncertificated Pledged
Collateral. 
 (a) Uncertificated Securities. Each Grantor hereby agrees that if any of the Pledged Collateral are
uncertificated securities, and are issued to such Grantor or its nominee directly by the issuer thereof, and are not evidenced by certificates of ownership, then each 

  
 - 11 - 

 
applicable Grantor shall, to the extent permitted by applicable law, if necessary or desirable to perfect a Lien in such Pledged Collateral, either (i) cause such pledge to be recorded on the
equityholder register or the books of the issuer, execute any customary pledge forms or other documents necessary or appropriate to complete the pledge and give the Notes Collateral Agent (or, prior to the discharge in full of all Domestic Priority
Debt, the agent, trustee or other representative of the holders of any Domestic Priority Debt) the right to transfer such Pledged Collateral under the terms hereof, or (ii) cause the issuer to agree to comply with instructions from the Notes
Collateral Agent (or, prior to the discharge in full of all Domestic Priority Debt, the agent, trustee or other representative of the holders of any Domestic Priority Debt)as to such securities, without further consent of any Grantor or such nominee
or (iii) promptly deliver to the Notes Collateral Agent (or, prior to the discharge in full of all Domestic Priority Debt, the agent, trustee or other representative of the holders of any Domestic Priority Debt) such documents, agreements and other
material as may be necessary or advisable from time to time to provide the Notes Collateral Agent (or, prior to the discharge in full of all Domestic Priority Debt, the agent, trustee or other representative of the holders of any Domestic Priority
Debt) with control over such uncertificated Pledged Collateral in the manner provided under section 24 of the STA (and, for purposes of section 27(1) of the STA, this Canadian Security Agreement shall constitute Grantor’s irrevocable consent to
entry into an agreement of the kind referred to in clause 24(1)(b) of the STA). 
 (b) Partnership and Limited Liability Company
Interests. If any Grantor has or hereafter acquires Collateral consisting of an interest in a partnership or limited liability company, it shall take all steps necessary, in the opinion of the Notes Collateral Agent to ensure that such
property is and remains a security for the purposes of the STA. 
 Section 4.6 Pledged Collateral. 

(a) Registration in Nominee Name; Denominations. Subject to the terms of the Intercreditor Agreement, the Notes Collateral Agent
(or, prior to the discharge in full of all Domestic Priority Debt, its non-fiduciary agent, designee or bailee), on behalf of the Notes Secured Parties, shall hold certificated Pledged Collateral in the name of the applicable Grantor, endorsed or
assigned in blank or in favor of the Notes Collateral Agent (or, prior to the discharge in full of all Domestic Priority Debt, its non-fiduciary agent, designee or bailee). Following the occurrence and during the continuance of an Event of
Default, each Grantor will promptly give to the Notes Collateral Agent (or, prior to the discharge in full of all Domestic Priority Debt, its non-fiduciary agent, designee or bailee) copies of any notices or other communications received by it with
respect to Pledged Collateral registered in the name of such Grantor. Subject to the terms of the Intercreditor Agreement, following the occurrence and during the continuance of an Event of Default and after prior written notice to the
applicable Grantor, the Notes Collateral Agent (or, prior to the discharge in full of all Domestic Priority Debt, its non-fiduciary agent, designee or bailee) shall at all times have the right to exchange the certificates representing Pledged
Collateral for certificates of smaller or larger denominations for any purpose consistent with this Canadian Security Agreement. The Notes Collateral Agent shall have no liability for the actions or omissions of any such non-fiduciary agent,
designee or bailee referred to above.

  
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 (b) Exercise of Rights in Pledged Collateral. Subject, in each case, to the
Intercreditor Agreement, 
 (i) Without in any way limiting the foregoing and subject to
clause (ii) below, each Grantor shall have the right to exercise all voting rights or other rights relating to the Pledged Collateral for any purpose not prohibited by this Canadian Security Agreement, the Indenture or any
other Note Document; provided, however, that no vote or other right shall be exercised or action taken that would reasonably be expected to have the effect of materially and adversely impairing the rights of the Notes Collateral Agent
in respect of the Pledged Collateral. 
 (ii) Each Grantor will permit the Notes Collateral Agent (or, prior to the discharge
in full of all Domestic Priority Debt, its non-fiduciary agent, designee or bailee) at any time after the occurrence and during the continuance of an Event of Default and after prior written notice to the applicable Grantor, to exercise all voting
rights or other rights relating to Pledged Collateral, including, without limitation, exchange, subscription or any other rights, privileges, or options pertaining to any Equity Interest or Investment Property constituting Pledged Collateral as if
it were the absolute owner thereof. For the avoidance of doubt, at any time that an Event of Default is no longer continuing and the Issuer has notified the Notes Collateral Agent (or, prior to the discharge in full of all Domestic Priority
Debt, its non-fiduciary agent, designee or bailee) that such Event of Default is no longer continuing, any rights vested in the Notes Collateral Agent (and/or its non-fiduciary agent, designee or bailee) pursuant to this Section 4.6(b)(ii)
after the occurrence and during the continuance of such Event of Default shall cease to be vested in the Notes Collateral Agent (and/or its non-fiduciary agent, designee or bailee) and shall instead be vested in the applicable Grantor, as set forth
in Section 4.6(b)(i). 
 (iii) Subject to Section 5.1(a)(5), each Grantor shall be entitled to receive and
retain any and all dividends, interest, principal and other distributions paid on or distributed in respect of the Pledged Collateral to the extent and only to the extent that such dividends, interest, principal and other distributions are permitted
by, and otherwise paid or distributed in accordance with, the terms and conditions of the Indenture, the other Note Documents and applicable law; provided, however, that, subject to the Agreed Security Principles, any non-cash
dividends, interest, principal or other distributions that would constitute Pledged Collateral, whether resulting from a subdivision, combination or reclassification of the outstanding Equity Interests of the issuer of any Pledged Collateral or
received in exchange for Pledged Collateral or any part thereof, or in redemption thereof, or as a result of any merger, consolidation, acquisition, reorganization, amalgamation, arrangement or other exchange of assets to which such issuer may be a
party or otherwise, shall be and become part of the Pledged Collateral, and, if received by any Grantor, shall not be commingled by such Grantor with any of its other funds or property but shall be held separate and apart therefrom, shall be held in
trust for the benefit of the Notes Secured Parties and shall be forthwith delivered to the Notes Collateral Agent (or, prior to the discharge in full of all Domestic Priority Debt, its non-fiduciary agent, designee or bailee) in the same form as so
received (with any necessary endorsement or instrument of assignment). 

  
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 Section 4.7 Intellectual Property. 

(a) Subject to clause (c) and (d) of Section 3.1, the Agreed Security Principles and the Intercreditor Agreement, upon the occurrence
and during the continuance of an Event of Default, at the reasonable request of the Notes Collateral Agent, each Grantor will use commercially reasonable efforts to obtain all consents and approvals necessary or appropriate for the assignment to or
for the benefit of the Notes Collateral Agent of any License held by such Grantor in order to enforce the security interests granted hereunder. 

(b) [Reserved]. 
 (c) In the
event that any Grantor, either directly or through any agent, employee, licensee or designee, files an application for the registration of (or otherwise becomes the owner of) any Patent, Trademark, Industrial Design or Copyright with the United
States Patent and Trademark Office, the United States Copyright Office, the Canadian Intellectual Property Office or becomes an exclusive licensee of a registered Copyright, such Grantor will, concurrently with any delivery of financial statements
pursuant to Sections 4.03(a)(i) and 4.03(a)(ii) of the Indenture, provide the Notes Collateral Agent written notice thereof, and, subject to the Intercreditor Agreement, Agreed Security Principles and clauses (c) and (d) of Section 3.1
hereof, such Grantor shall promptly execute and deliver any and all supplemental Canadian Intellectual Property Security Agreements or other instruments as are necessaryto evidence the Notes Collateral Agent’s security interest in such Patent,
Trademark, Industrial Design or Copyright or exclusive license of registered Copyright, and the General Intangibles of such Grantor relating thereto or represented thereby. For the avoidance of doubt, at any time prior to the discharge in full
of all Domestic Priority Debt, no Grantor shall be required to execute and deliver any supplemental Intellectual Property Security Agreements or other instruments to evidence the Notes Collateral Agent’s security interest in any Patent,
Trademark or Copyright or exclusive license of registered Copyright, and the General Intangibles of such Grantor relating thereto or represented thereby, unless such Grantor has taken, or is required to take, a comparable action to evidence the
security interest of each ABL Collateral Agent created by the ABL Debt Documents in such Patent, Trademark or Copyright or exclusive license of registered Copyright, and the General Intangibles of such Grantor relating thereto or represented
thereby, as applicable. 
 Section 4.8 Commercial Claims. Subject to the Agreed Security Principles and clauses (c) and (d) of
Section 3.1 hereof, each Grantor shall promptly notify the Notes Collateral Agent of any litigation claims for which such Grantor has filed complaint(s) in court(s) of competent jurisdiction and, unless the Notes Collateral Agent (or, prior
to the discharge in full of all Domestic Priority Debt, the agent, trustee or other representative of the holders of any Domestic Priority Debt) otherwise consents, such Grantor shall update Schedule 7 hereto, thereby granting to the Notes
Collateral Agent a security interest in such litigation claim(s) (subject to the terms of the Intercreditor Agreement). The requirement in the preceding sentence shall not apply (i) to the extent that the amount of such litigation claim does
not exceed (x) prior to the discharge in full of all Domestic Priority Debt, the threshold amount at which 

  
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notification to each ABL Collateral Agent is required pursuant to the ABL Debt Documents and (y) upon and after discharge in full of all Domestic Priority Debt, $2,500,000, in either case, held
by each Grantor or (ii) to the extent such Grantor shall have previously notified the Notes Collateral Agent with respect to any previously held or acquired litigation claim. 

ARTICLE V 
 REMEDIES

 Section 5.1 Remedies. Upon the occurrence and during the continuance of an Event of Default and after prior written notice
to the Company: 
 (a) the Notes Collateral Agent may (and at the direction of Holders of the Notes in accordance with and subject to the
Indenture, shall) exercise any or all of the following rights and remedies: 
 (1) those rights and remedies provided in this
Canadian Security Agreement, the Indenture, the Intercreditor Agreement or any other Note Document; provided that this Section 5.1(a) shall not be understood to limit any rights available to the Notes Collateral
Agent and the Notes Secured Parties prior to an Event of Default; 
 (2) those rights and remedies available to a secured
party under the PPSA or STA (whether or not the PPSA or STA applies to the affected Collateral) or under any other applicable law (including, without limitation, any law governing the exercise of a bank’s right of setoff or bankers’ Lien)
when a debtor is in default under a security agreement; 
 (3) give notice of sole control or any other instruction under any
control or similar agreement and take any action provided therein with respect to the applicable Collateral; 
 (4) enter the
premises of any Grantor where any Collateral is located (through self-help, and without judicial process) to collect, receive, assemble, process, appropriate, sell, lease, assign, grant an option or options to purchase or otherwise dispose of,
deliver, or realize upon, the Collateral or any part thereof in one or more parcels at public or private sale or sales (which sales may be adjourned or continued from time to time with or without notice and may take place at such Grantor’s
premises or elsewhere), for cash, on credit or for future delivery without assumption of any credit risk, and upon such other terms as the Notes Collateral Agent may deem commercially reasonable; 

(5) after written notice to the Grantors, transfer and register in its name or in the name of its nominee the whole or any part
of the Pledged Collateral, to exchange certificates or instruments representing or evidencing Pledged Collateral for certificates or instruments of smaller or larger denominations, to exercise the voting and all other rights as a holder with respect
thereto, to collect and receive 

  
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all cash dividends, interest, principal and other distributions made thereon and to otherwise act with respect to the Pledged Collateral as though the Notes Collateral Agent was the outright
owner thereof; and 
 (6) appoint by instrument in writing a receiver (which term as used in this Agreement includes an
interim receiver, receiver-manager and a receiver and manager) or agent of all or any part of the Collateral and removing or replacing from time to time any receiver or agent, and/or institute proceedings in any court of competent jurisdiction for
the appointment of a receiver of all or any part of the Collateral. Any receiver appointed by the Notes Collateral Agent shall be vested with all rights and remedies which could have been exercised by the Notes Collateral Agent in respect of the
Grantors or the Collateral and such other powers and discretions as are granted in the instrument of appointment and any supplemental instruments. The choice of receiver and its remuneration are within the sole and unfettered discretion of the Notes
Collateral Agent. Any receiver appointed by the Notes Collateral Agent shall act as agent for the Notes Collateral Agent for the purposes of taking possession of the Collateral, but otherwise and for all other purposes (except as provided below), as
agent for the Grantors. The receiver may sell, lease, or otherwise dispose of Collateral as agent for the Grantors or as agent for the Notes Collateral Agent as the Notes Collateral Agent may determine in its discretion. The Grantors agree to ratify
and confirm all actions of the receiver acting as agent for such Grantor, and to release and indemnify the receiver in respect of all such actions. The Notes Collateral Agent, in appointing or refraining from appointing any receiver, shall not incur
any liability to the receiver, the Grantors or otherwise and is not responsible for any misconduct or negligence of such receiver. All expenses, costs and charges incurred by or on behalf of the Notes Collateral Agent in connection with the
appointment of a receiver under this Canadian Security Agreement shall be borne by the Grantors, are payable on demand and shall be added to and form part of the Indenture Obligations of the Credit Parties. 

(b) Each Grantor acknowledges and agrees that the compliance by the Notes Collateral Agent, on behalf of the Notes Secured Parties, with any
applicable provincial or federal law requirements in connection with a disposition of the Collateral will not be considered to adversely affect the commercial reasonableness of any sale of the Collateral. 

(c) The Notes Collateral Agent shall have the right upon any public sale or sales and, to the extent permitted by law, upon any private sale
or sales, to purchase for the benefit of the Notes Collateral Agent and the other Notes Secured Parties, the whole or any part of the Collateral so sold, free of any right of equity redemption, which equity redemption each Grantor hereby expressly
releases. 
 (d) Until the Notes Collateral Agent is able to effect a sale, lease, transfer or other disposition of Collateral, the Notes
Collateral Agent shall have the right to hold or use Collateral, or any part thereof, to the extent that it deems appropriate for the purpose of preserving Collateral or the value of the Collateral, or for any other purpose deemed appropriate

  
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by the Notes Collateral Agent. The Notes Collateral Agent may, if it so elects, seek the appointment of a receiver or keeper to take possession of Collateral and to enforce any of the Notes
Collateral Agent’s remedies (for the benefit of the Notes Collateral Agent and Notes Secured Parties) with respect to such appointment without prior notice or hearing as to such appointment. 

(e) Notwithstanding the foregoing, neither the Notes Collateral Agent nor the Notes Secured Parties shall be required to (i) make any
demand upon, or pursue or exhaust any of their rights or remedies against, the Grantors, any other obligor, guarantor, pledgor or any other Person with respect to the payment of the Indenture Obligations or to pursue or exhaust any of their rights
or_remedies with respect to any Collateral therefor or any direct or indirect guarantee thereof, (ii) marshal the Collateral or any guarantee of the Indenture Obligations or to resort to the Collateral or any such guarantee in any particular
order, or (iii) effect a public sale of any Collateral. 
 (f) Each Grantor recognizes that the Notes Collateral Agent may be unable to
effect a public sale of any or all of the Pledged Collateral and may be compelled to resort to one or more private sales thereof. Each Grantor also acknowledges that any private sale may result in prices and other terms less favourable to the
seller than if such sale were a public sale and, notwithstanding such circumstances, agrees that any such private sale shall not be deemed to have been made in a commercially unreasonable manner solely by virtue of such sale being private. The
Notes Collateral Agent shall be under no obligation to delay a sale of any of the Pledged Collateral for the period of time necessary to permit any Grantor or the issuer of the Pledged Collateral to register such securities for public sale under any
applicable securities laws, even if any Grantor and the issuer would agree to do so (it being acknowledged and agreed that no Grantor shall have any obligation hereunder to do so). 

(g) Notwithstanding the foregoing, any rights and remedies provided in this Section 5.1 shall be subject to the Intercreditor
Agreement. 
 Section 5.2 Grantors’ Obligations Upon Default. Subject to the Intercreditor Agreement, upon the written
request of the Notes Collateral Agent after the occurrence and during the continuance of an Event of Default, each Grantor will: 
 (a)
assemble and make available to the Notes Collateral Agent the Collateral and all books and records relating thereto at any place or places reasonably specified by the Notes Collateral Agent, whether at such Grantor’s premises or elsewhere; and

 (b) permit the Notes Collateral Agent, by the Notes Collateral Agent’s representatives and agents, to enter, occupy and use any
premises where all or any part of the Collateral, or the books and records relating thereto, or both, are located, to take possession of all or any part of the Collateral or the books and records relating thereto, or both, to remove all or any part
of the Collateral or the books and records relating thereto, or both, and to conduct sales of the Collateral, without any obligation to pay any Grantor for such use and occupancy. 

Section 5.3 Grant of Intellectual Property License. For the purpose of enabling the Notes Collateral Agent to exercise the rights and
remedies under this Article V upon 

  
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the occurrence and during the continuance of an Event of Default and after prior written notice to the Company, at such time as the Notes Collateral Agent shall be lawfully entitled to exercise
such rights and remedies, each Grantor hereby (a) grants to the Notes Collateral Agent, for the benefit of the Notes Collateral Agent and the other Notes Secured Parties, an irrevocable nonexclusive license (exercisable without payment of
royalty or other compensation to such Grantor) to use, license or sublicense any Intellectual Property rights now owned or hereafter acquired by such Grantor, wherever the same may be located, and including in such license access to all media in
which any of the licensed items may be recorded or stored and to all computer software and programs used for the compilation or printout thereof; provided, however that such licenses to be granted hereunder with respect to Trademarks shall be
subject to the maintenance of quality standards with respect to the goods and services on which such Trademarks are used sufficient to preserve the validity of such Trademarks; and provided, further, that the Notes Collateral Agent
shall have no greater rights than those of any such Grantor under such license or sublicense; and (b) irrevocably agrees that, at any time and from time to time following the occurrence and during the continuance of an Event of Default and
after prior written notice to the Company, the Notes Collateral Agent may sell any Grantor’s Inventory directly to any Person, including without limitation Persons who have previously purchased any Grantor’s Inventory from such Grantor and
in connection with any such sale or other enforcement of the Notes Collateral Agent’s rights under this Canadian Security Agreement, may (subject to any restrictions contained in applicable third party licenses entered into by a Grantor) sell
Inventory which bears any Trademark owned by or licensed to any Grantor and any Inventory that is covered by any Copyright owned by or licensed to such Grantor and the Notes Collateral Agent may finish any work in process and affix any relevant
Trademark owned by or licensed to any Grantor and sell such Inventory as provided herein. The use of the license granted pursuant to clause (a) of the preceding sentence by the Notes Collateral Agent may be exercised,
at the option of the Notes Collateral Agent, only upon the occurrence and during the continuance of an Event of Default and after prior written notice to the Company and shall be subject to the Intercreditor Agreement; provided,
however, that any permitted license, sublicense or other transaction entered into by the Notes Collateral Agent in accordance herewith shall be binding upon each Grantor notwithstanding any subsequent cure of an Event of Default. 

ARTICLE VI 
 ATTORNEY
IN FACT; PROXY 
 Section 6.1 [Reserved]. 

Section 6.2 Authorization for Notes Secured Party to Take Certain Action. 

(a) Subject to the Intercreditor Agreement, the Agreed Security Principles and clauses (c) and (d) of Section 3.1 hereof, each Grantor
hereby (i) authorizes the Notes Collateral Agent, at any time and from time to time in the sole discretion of the Notes Collateral Agent (1) to execute on behalf of such Grantor as debtor and to file financing statements necessary or desirable
in the Notes Collateral Agent’s reasonable discretion to perfect and to maintain the 

  
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perfection and priority of the Notes Collateral Agent’s security interest in the Collateral (including, without limitation, to file financing statements permitted under
Section 4.1(b)); provided that a comparable action has been taken to perfect and/or maintain the perfection and priority of each ABL Collateral Agent’s security interest in the Collateral and (2) to file a
carbon, photographic or other reproduction of this Canadian Security Agreement or any financing statement with respect to the Collateral as a financing statement and to file any other financing statement or amendment of a financing statement (which
would not add new collateral or add a debtor) in such offices as the Notes Collateral Agent in its reasonable discretion deems necessary or desirable to perfect and to maintain the perfection and priority of the Notes Collateral Agent’s
security interest in the Collateral (including, without limitation, to file financing statements permitted under Section 4.1(b)); provided that a comparable action has been taken to perfect and/or maintain the
perfection and priority of each ABL Collateral Agent’s security interest in the Collateral and (ii) appoints, effective upon the occurrence and during the continuance of an Event of Default and after prior written notice to the Company, subject
to the Intercreditor Agreement, the Notes Collateral Agent as its attorney in fact (1) to discharge past due taxes, assessments, charges, fees or Liens on the Collateral (except for such Liens as are specifically permitted by Section 4.12 of the
Indenture), (2) to endorse and collect any cash proceeds of the Collateral and to apply the proceeds of any Collateral received by the Notes Collateral Agent to the Indenture Obligations as provided herein or in the Indenture or any other Note
Document, subject to the terms of the Intercreditor Agreement, (3) to demand payment or enforce payment of the Receivables in the name of the Notes Collateral Agent or any Grantor and to endorse any and all cheques, drafts, and other
instruments for the payment of money relating to the Receivables, (4) to sign any Grantor’s name on any invoice or bill of lading relating to the Receivables, drafts against any Account Debtor of such Grantor, assignments and verifications
of Receivables, (5) to exercise all of any Grantor’s rights and remedies with respect to the collection of the Receivables and any other Collateral, (6) to settle, adjust, compromise, extend or renew the Receivables, (7) to
settle, adjust or compromise any legal proceedings brought to collect Receivables, (8) to prepare, file and sign any Grantor’s name on a proof of claim in bankruptcy or insolvency or similar document against any Account Debtor of such
Grantor, (9) to prepare, file and sign any Grantor’s name on any notice of Lien, assignment or satisfaction of Lien or similar document in connection with the Receivables, (10) to change the address for delivery of mail addressed to
any Grantor to such address as the Notes Collateral Agent may designate and to receive, open and dispose of all mail addressed to such Grantor, and (11) to use information contained in any data processing, electronic or information systems relating
to Collateral; and each Grantor agrees to reimburse the Notes Collateral Agent for any reasonable payment made or any reasonable documented expense incurred by the Notes Collateral Agent in connection with any of the foregoing, in accordance with
the provisions Section 13.11(n) of the Indenture; provided that, this authorization shall not relieve any Grantor of any of its obligations under this Canadian Security Agreement or under the Indenture. 

(b) All acts of said attorney or designee are hereby ratified and approved by the Grantors. The powers conferred on the Notes Collateral
Agent, for the benefit of the Notes Collateral Agent and other Notes Secured Parties, under this Section 6.2 are solely to protect the Notes Collateral Agent’s interests in the Collateral and shall not impose any duty
upon the Notes Collateral Agent or any other Notes Secured Party to exercise any such powers. 

  
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 Section 6.3 PROXY. EACH GRANTOR HEREBY IRREVOCABLY CONSTITUTES AND APPOINTS,
EFFECTIVE UPON THE OCCURRENCE AND DURING THE CONTINUANCE OF AN EVENT OF DEFAULT AND AFTER PRIOR WRITTEN NOTICE TO THE COMPANY, THE NOTES COLLATERAL AGENT AS ITS PROXY AND ATTORNEY-IN-FACT (AS SET FORTH IN Section 6.2 ABOVE) WITH RESPECT TO
THE PLEDGED COLLATERAL, INCLUDING THE RIGHT TO VOTE SUCH PLEDGED COLLATERAL, WITH FULL POWER OF SUBSTITUTION TO DO SO. IN ADDITION TO THE RIGHT TO VOTE ANY SUCH PLEDGED COLLATERAL, THE APPOINTMENT OF THE NOTES COLLATERAL AGENT AS PROXY AND
ATTORNEY-IN-FACT SHALL INCLUDE THE RIGHT TO EXERCISE ALL OTHER RIGHTS, POWERS, PRIVILEGES AND REMEDIES TO WHICH A HOLDER OF SUCH PLEDGED COLLATERAL WOULD BE ENTITLED (INCLUDING GIVING OR WITHHOLDING WRITTEN CONSENTS OF SHAREHOLDERS, CALLING SPECIAL
MEETINGS OF SHAREHOLDERS AND VOTING AT SUCH MEETINGS). SUCH PROXY SHALL BE EFFECTIVE, AUTOMATICALLY AND WITHOUT THE NECESSITY OF ANY ACTION (INCLUDING ANY TRANSFER OF ANY SUCH PLEDGED COLLATERAL ON THE RECORD BOOKS OF THE ISSUER THEREOF) BY ANY
PERSON (INCLUDING THE ISSUER OF SUCH PLEDGED COLLATERAL OR ANY OFFICER OR AGENT THEREOF), UPON THE OCCURRENCE AND DURING THE CONTINUANCE OF AN EVENT OF DEFAULT. 

Section 6.4 NATURE OF APPOINTMENT; LIMITATION OF DUTY. THE APPOINTMENT OF THE NOTES COLLATERAL AGENT AS PROXY AND
ATTORNEY-IN-FACT IN THIS ARTICLE VI IS COUPLED WITH AN INTEREST AND SHALL BE IRREVOCABLE UNTIL THE DATE ON WHICH THIS CANADIAN SECURITY AGREEMENT IS TERMINATED IN ACCORDANCE WITH Section 7.13. NOTWITHSTANDING
ANYTHING CONTAINED HEREIN, NEITHER THE NOTES COLLATERAL AGENT, NOR ANY OTHER NOTES SECURED PARTY, NOR ANY OF THEIR RESPECTIVE AFFILIATES, OFFICERS, DIRECTORS, EMPLOYEES, AGENTS OR REPRESENTATIVES SHALL HAVE ANY DUTY TO EXERCISE ANY RIGHT OR POWER
GRANTED HEREUNDER OR OTHERWISE OR TO PRESERVE THE SAME AND SHALL NOT BE LIABLE FOR ANY FAILURE TO DO SO OR FOR ANY DELAY IN DOING SO, EXCEPT TO THE EXTENT SUCH DAMAGES ARE ATTRIBUTABLE TO THEIR OWN GROSS NEGLIGENCE, WILLFUL MISCONDUCT, OR BAD FAITH
AS DETERMINED BY A COURT OF COMPETENT JURISDICTION IN A FINAL NON-APPEALABLE DECISION; PROVIDED THAT, IN NO EVENT SHALL THEY BE LIABLE FOR ANY INDIRECT, SPECIAL, EXEMPLARY, INCIDENTAL, PUNITIVE, OR CONSEQUENTIAL DAMAGES. 

ARTICLE VII 
 GENERAL
PROVISIONS 
 Section 7.1 Waivers. Each Grantor hereby waives notice of the time and place of any public sale or the time after
which any private sale or other disposition of all or any part of the Collateral may be made. To the extent such notice may not be waived under applicable law, any notice made shall be deemed reasonable if sent to the Grantors, addressed as set
forth in Article VIII, at least ten days prior to (i) the date of any such public sale or (ii) the 

  
 - 20 - 

 
time after which any such private sale or other disposition may be made. To the maximum extent permitted by applicable law, each Grantor waives all claims, damages, and demands against the
Notes Collateral Agent or any other Notes Secured Party arising out of the repossession, retention or sale of the Collateral (after the occurrence of and during the continuance of an Event of Default and after prior written notice to the Company),
except such as arise solely out of the gross negligence, willful misconduct or bad faith of the Notes Collateral Agent or such other Notes Secured Party as determined by a court of competent jurisdiction in a final non-appealable decision. To
the extent it may lawfully do so, each Grantor absolutely and irrevocably waives and relinquishes the benefit and advantage of, and covenants not to assert against the Notes Collateral Agent or any other Notes Secured Party, any valuation, stay,
appraisal, extension, moratorium, redemption or similar laws and any and all rights or defenses it may have as a surety now or hereafter existing which, but for this provision, might be applicable to the sale of any Collateral (after the occurrence
of and during the continuance of an Event of Default and after prior written notice to the Company), made under the judgment, order or decree of any court, or privately under the power of sale conferred by this Canadian Security Agreement, or
otherwise. Except as otherwise specifically provided herein, each Grantor hereby waives presentment, demand, protest or any notice (to the maximum extent permitted by applicable law) of any kind in connection with this Canadian Security
Agreement or any Collateral. 
 Section 7.2 Limitation on Notes Collateral Agent’s and Notes Secured Party’s Duty with Respect
to the Collateral. The Notes Collateral Agent shall have no obligation to clean-up or otherwise prepare the Collateral for sale. The Notes Collateral Agent and each other Notes Secured Party shall use reasonable care with respect to
the Collateral in its possession or under its control; provided that the Notes Collateral Agent and each Notes Secured Party shall be deemed to have exercised reasonable care in the custody and preservation of the Collateral in its possession
or control if such Collateral is accorded treatment substantially equivalent to that which the Notes Collateral Agent or such Notes Secured Party, as applicable, accords its own property, consisting of similar type assets. Neither the Notes
Collateral Agent, nor any other Notes Secured Party shall have any other duty as to any Collateral in its possession or control or in the possession or control of any agent or nominee of the Notes Collateral Agent or such other Notes Secured Party,
or any income thereon or as to the preservation of rights against prior parties or any other rights pertaining thereto. To the extent that applicable law imposes duties on the Notes Collateral Agent to exercise remedies, after the occurrence
and during the continuance of an Event of Default and after prior written notice to the Company, in a commercially reasonable manner, each Grantor acknowledges and agrees that it would be commercially reasonable for the Notes Collateral Agent
(i) to fail to incur expenses to prepare Collateral for disposition or otherwise to transform raw material or work in process into finished goods or other finished products for disposition, (ii) to fail to obtain third party consents for
access to Collateral to be disposed of, or to obtain or, if not required by other law, to fail to obtain governmental or third party consents for the collection or disposition of Collateral to be collected or disposed of, (iii) to fail to
exercise collection remedies against Account Debtors or other Persons obligated on Collateral or to remove Liens on or any adverse claims against Collateral, (iv) to exercise collection remedies against Account Debtors and other Persons
obligated on Collateral directly or through the use of collection agencies and other collection specialists, (v) to advertise dispositions of Collateral through publications or media of general 

  
 - 21 - 

 
circulation, whether or not the Collateral is of a specialized nature, (vi) to contact other Persons, whether or not in the same business as a Grantor, for expressions of interest in
acquiring all or any portion of such Collateral, (vii) to hire one or more professional auctioneers to assist in the disposition of Collateral, whether or not the Collateral is of a specialized nature, (viii) to dispose of Collateral by
utilizing internet sites that provide for the auction of assets of the types included in the Collateral or that have the reasonable capacity of doing so, or that match buyers and sellers of assets, (ix) to dispose of assets in wholesale rather
than retail markets, (x) to disclaim disposition warranties, such as title, possession or quiet enjoyment, (xi) to purchase insurance or credit enhancements at the Grantors’ cost to insure the Notes Collateral Agent against risks of
loss, collection or disposition of Collateral or to provide to the Notes Collateral Agent a guaranteed return from the collection or disposition of Collateral, or (xii) to the extent deemed appropriate by the Notes Collateral Agent, to obtain
the services of other brokers, investment bankers, consultants and other professionals to assist the Notes Collateral Agent in the collection or disposition of any of the Collateral. Each Grantor acknowledges that the purpose of this
Section 7.2 is to provide non-exhaustive indications of what actions or omissions by the Notes Collateral Agent would be commercially reasonable in the Notes Collateral Agent’s exercise of remedies against the
Collateral, after the occurrence and during the continuance of an Event of Default, and that other actions or omissions by the Notes Collateral Agent shall not be deemed commercially unreasonable solely on account of not being indicated in this
Section 7.2. Without limitation upon the foregoing, nothing contained in this Section 7.2 shall be construed to grant any rights to any Grantor or to impose any duties on the Notes Collateral
Agent that would not have been granted or imposed by this Canadian Security Agreement or by applicable law in the absence of this Section 7.2. 

Section 7.3 Compromises and Collection of Collateral. Each Grantor and the Notes Collateral Agent recognize that setoffs,
counterclaims, defenses and other claims may be asserted by obligors with respect to certain of the Receivables, that certain of the Receivables may be or become uncollectible in whole or in part and that the expense and probability of
success in litigating a disputed Receivable may exceed the amount that reasonably may be expected to be recovered with respect to a Receivable. In view of the foregoing, each Grantor agrees that, subject to the Intercreditor Agreement, the
Notes Collateral Agent may at any time and from time to time, if an Event of Default has occurred and is continuing, compromise with the obligor on any Receivable, accept in full payment of any Receivable such amount as the Notes Collateral Agent in
its sole discretion shall determine or abandon any Receivable, and any such action by the Notes Collateral Agent shall be commercially reasonable so long as the Notes Collateral Agent acts in good faith based on information known to it at the time
it takes any such action. 
 Section 7.4 Notes Secured Party Performance of Debtor Obligations. Without having any obligation
to do so, following the occurrence and during the continuance of an Event of Default and after prior written notice to the Company, subject to the Intercreditor Agreement, the Notes Collateral Agent may perform or pay any obligation which any
Grantor has agreed to perform or pay under this Canadian Security Agreement and such Grantor shall reimburse the Notes Collateral Agent for any amounts paid by the Notes Collateral Agent pursuant to this
Section 7.4. Each Grantor’s obligation to reimburse the Notes Collateral Agent pursuant to the preceding sentence shall be a Indenture Obligation payable on demand. 

  
 - 22 - 

 Section 7.5 No Waiver; Amendments; Cumulative Remedies. No failure or delay by the
Notes Collateral Agent or any other Notes Secured Party in exercising any right or power hereunder shall operate as a waiver thereof, nor shall any single or partial exercise of any such right or power, or any abandonment or discontinuance of steps
to enforce such a right or power, preclude any other or further exercise thereof or the exercise of any other right or power. The rights and remedies of the Notes Collateral Agent and the other Notes Secured Party hereunder are cumulative and
are not exclusive of any rights or remedies that they would otherwise have. No waiver of any provision of this Canadian Security Agreement or consent to any departure by any Notes Secured Party therefrom shall in any event be effective unless
in writing signed by the Notes Collateral Agent and, if required by the Indenture, with the concurrence or at the direction of the Holders required under Article 9 of the Indenture, and then such waiver or consent shall be effective only in the
specific instance and for the purpose for which given. 
 Section 7.6 Limitation by Law; Severability of Provisions. All
rights, remedies and powers provided in this Canadian Security Agreement may be exercised only to the extent that the exercise thereof does not violate any applicable law, and all the provisions of this Canadian Security Agreement are intended to be
subject to all applicable mandatory law that may be controlling and to be limited to the extent necessary so that they shall not render this Canadian Security Agreement invalid, unenforceable or not entitled to be recorded or registered, in whole or
in part. If any provision of this Canadian Security Agreement is held to be illegal, invalid or unenforceable, (a) the legality, validity and enforceability of the remaining provisions of this Canadian Security Agreement shall not be affected
or impaired thereby and (b) the parties shall endeavor in good faith negotiations to replace the illegal, invalid or unenforceable provisions with valid provisions the economic effect of which comes as close as possible to that of the illegal,
invalid or unenforceable provisions. The invalidity of a provision in a particular jurisdiction shall not invalidate or render unenforceable such provision in any other jurisdiction. 

Section 7.7 Reinstatement. This Canadian Security Agreement shall remain in full force and effect and continue to be effective
should any petition be filed by or against any Grantor for liquidation or reorganization, should any Grantor become insolvent or make an assignment for the benefit of any creditor or creditors or should a receiver or trustee be appointed for all or
any significant part of such Grantor’s assets, and shall continue to be effective or be reinstated, as the case may be, if at any time payment and performance of the Indenture Obligations, or any part thereof, is, pursuant to applicable law,
rescinded or reduced in amount, or must otherwise be restored or returned by any obligee of the Indenture Obligations, whether as a “voidable preference,” “fraudulent conveyance,” or otherwise, all as though such payment or
performance had not been made. In the event that any payment, or any part thereof, is rescinded, reduced, restored or returned, the Indenture Obligations shall be reinstated and deemed reduced only by such amount paid and not so rescinded,
reduced, restored or returned. 
 Section 7.8 Benefit of Agreement. The terms and provisions of this Canadian Security
Agreement shall be binding upon and inure to the benefit of each Grantor, the Notes Collateral Agent and the Notes Secured Parties and their respective successors and permitted assigns (including all Persons who become bound as a debtor to this
Canadian Security Agreement), except that no Grantor shall have the right to assign its rights or delegate its 

  
 - 23 - 

 
obligations under this Canadian Security Agreement or any interest herein, without the prior written consent of the Notes Collateral Agent. No sales of participations, assignments,
transfers, or other dispositions of any agreement governing the Indenture Obligations or any portion thereof or interest therein shall in any manner impair the Lien granted to the Notes Collateral Agent, for the benefit of the Notes Collateral Agent
and the Notes Secured Parties, hereunder. 
 Section 7.9 Survival of Representations. All representations and warranties of
each Grantor contained in this Canadian Security Agreement shall survive the execution and delivery of this Canadian Security Agreement. 

Section 7.10 Taxes and Expenses. To the extent required by Section 13.11(n) of the Indenture, or otherwise, each Grantor jointly
and severally agrees to (i) pay any taxes payable or ruled payable by Federal or Provincial or municipal authority in respect of this Canadian Security Agreement, together with interest and penalties, if any, and (ii) reimburse the Notes
Collateral Agent for any and all reasonable documented out-of-pocket expenses paid or incurred by the Notes Collateral Agent in connection with the preparation, execution, delivery, administration, collection and enforcement of this Canadian
Security Agreement and in the audit, analysis, administration, collection, preservation or sale of the Collateral (including the expenses and charges associated with any periodic or special audit of the Collateral). Any and all costs and
expenses incurred by any Grantor in the performance of actions required pursuant to the terms hereof shall be borne solely by such Grantor. 

Section 7.11 Additional Grantors. Each Grantor shall cause any Canadian Subsidiary that is required to become a party to the
Collateral Documents pursuant to Section 4.15 of the Indenture to enter into this Canadian Security Agreement as a Subsidiary Grantor in accordance with Section 4.15 of the Indenture. Upon execution and delivery by the Notes Collateral Agent
and such Subsidiary of an instrument in the form of Exhibit B hereto, such Subsidiary shall become a Subsidiary Grantor hereunder with the same force and effect as if originally named as a Subsidiary Grantor herein. The execution and
delivery of any such instrument shall not require the consent of any other Credit Party hereunder. The rights and obligations of each Credit Party hereunder shall remain in full force and effect notwithstanding the addition of any new Credit
Party as a party to this Canadian Security Agreement. 
 Section 7.12 Headings. The headings of the several Sections and
subsections of this Canadian Security Agreement are inserted for convenience only and shall not in any way affect the meaning or construction of any provision of this Canadian Security Agreement. 

Section 7.13 Termination or Release. 

(a) This Canadian Security Agreement shall continue in effect until the Payment in Full Date. 

(b) A Grantor (other than the Company) shall automatically be released from its obligations hereunder and the security interests created
hereunder in the Collateral of such Grantor shall be automatically released upon the release of such Grantor from its obligations under the Guarantee, as set forth in Section 13.03 of the Indenture. 

  
 - 24 - 

 (c) The security interests created by this Canadian Security Agreement in any Collateral shall be
automatically released upon the effectiveness of any release of such security interest in such Collateral pursuant to Section 13.03 of the Indenture. 

(d) The security interests granted hereunder on any Collateral, to the extent such Collateral is comprised of property leased to a Grantor by
a Person that is not a Grantor, shall be automatically released upon termination or expiration of such lease, pursuant to Section 13.03 of the Indenture. 

(e) The security interests created hereunder in the Collateral shall be automatically released as required pursuant to the terms of the
Intercreditor Agreement. 
 (f) The security interests created hereunder in any property or asset shall be automatically released if such
property or asset constitutes an Excluded Asset or if, pursuant to the Agreed Security Principles, such property or asset is no longer required to be subject to a Lien granted to the Notes Collateral Agent. 

(g) In connection with any termination or release pursuant to paragraph (a), (b), (c), (d),
(e) or (f) above, the Notes Collateral Agent shall promptly execute and deliver to any Grantor, at such Grantor’s expense, all PPSA discharge statements (or financing change statements) and similar documents that such Grantor
shall reasonably request to evidence such discharge, termination or release. Any execution and delivery of documents pursuant to this Section 7.13 shall be without recourse to or representation or warranty by the Notes Collateral Agent
or any other Notes Secured Party. The Issuer shall reimburse the Notes Collateral Agent upon demand for all reasonable and documented costs and out of pocket expenses, including the fees, charges and expenses of counsel, incurred by it in
connection with any action contemplated by this Section 7.13. 
 Section 7.14 Entire Agreement. This Canadian Security
Agreement, together with the other Note Documents and the Intercreditor Agreement, embodies the entire agreement and understanding between each Grantor and the Notes Collateral Agent relating to the Collateral and supersedes all prior agreements and
understandings, oral or written, between any Grantor and the Notes Collateral Agent relating to the Collateral. 
 Section 7.15 CHOICE
OF LAW. THIS CANADIAN SECURITY AGREEMENT SHALL BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH, THE LAWS OF THE PROVINCE OF ONTARIO AND THE FEDERAL LAWS OF CANADA APPLICABLE THEREIN. 

Section 7.16 Consent to Jurisdiction. Each party to this Canadian Security Agreement consents to the exclusive jurisdiction of
any court of the Province of Ontario, in any dispute, action, litigation or other proceeding shall be brought by it solely in any such court. Each party to this Canadian Security Agreement irrevocably and unconditionally waives all claims,
objections and defenses that it may have regarding any such court’s personal or subject matter jurisdiction, venue or inconvenient forum. Each party to this Canadian Security Agreement irrevocably and unconditionally submits to the
jurisdiction of such courts and consents to service of process in the manner provided for notices in Section 12.02 of the 

  
 - 25 - 

 
Indenture. A final judgment in any proceeding of any such court shall be conclusive and may be enforced in other jurisdictions by suit on the judgment or any other manner provided by
applicable law. 
 Section 7.17 WAIVER OF JURY TRIAL. EACH OF THE PARTIES TO THIS CANADIAN SECURITY AGREEMENT HEREBY
IRREVOCABLY WAIVES ALL RIGHT TO A TRIAL BY JURY IN ANY ACTION, PROCEEDING OR COUNTERCLAIM ARISING OUT OF OR RELATING TO THIS CANADIAN SECURITY AGREEMENT, THE OTHER NOTE DOCUMENTS OR THE TRANSACTIONS CONTEMPLATED HEREBY OR THEREBY. 

Section 7.18 Actions by ABL Collateral Agents. Notwithstanding anything to the contrary herein or in any other Note Document, it
is understood and agreed that, at any time prior to the discharge in full of all Domestic Priority Debt, (i) to the extent that any provision of this Canadian Security Agreement requires any Grantor to deliver any property or asset to the Notes
Collateral Agent, such delivery requirement shall be deemed to be satisfied upon delivery of such property or asset, as applicable, to any ABL Collateral Agent and (ii) any consent required or authorized to be given by the Notes Collateral Agent
hereunder shall, if given by a ABL Collateral Agent pursuant to any ABL Debt Document, be deemed to have been given by the Notes Collateral Agent hereunder. The Notes Collateral Agent shall have no liability for the actions or omissions of the
ABL Collateral Agent. 
 Section 7.19 Counterparts. This Canadian Security Agreement may be executed in any number of
counterparts and by different parties hereto on separate counterparts (including by facsimile or other electronic transmission (i.e., a “pdf” or “tif”)), each of which when so executed and delivered shall be an original, but all
of which shall, taken together, constitute one and the same instrument. 
 Section 7.20 INTERCREDITOR AGREEMENT
GOVERNS. Notwithstanding anything herein to the contrary, the lien and security interest granted to the Notes Collateral Agent pursuant to this Canadian Security Agreement and the exercise of any right or remedy by the Notes Collateral
Agent hereunder are subject to the provisions of the Intercreditor Agreement. In the event of any conflict between the terms of the Intercreditor Agreement and this Canadian Security Agreement, the terms of the Intercreditor Agreement shall
govern and control. 
 Section 7.21 [Reserved]. 

Section 7.22 Mortgages. In the case of a conflict between this Canadian Security Agreement and the Mortgages with respect to
Collateral that is real property (including Fixtures), if any, the Mortgages shall govern. In all other conflicts between this Canadian Security Agreement and the Mortgages, this Canadian Security Agreement shall govern. 

  
 - 26 - 

 ARTICLE VIII 

NOTICES 
 Section 8.1 Sending
Notices. All notices, requests and demands pursuant hereto shall be made in accordance with Section 12.02 of the Indenture. All communications and notices hereunder to any Grantor shall be given to it in care of the Company at the
Company’s address set forth in Section 12.02 of the Indenture. 
 Section 8.2 Change in Address for Notices. Each of
the Grantors and the Notes Collateral Agent may change the address or facsimile number for service of notice upon it by a notice in writing to the other parties. 

ARTICLE IX 
 THE NOTES
COLLATERAL AGENT 
 U.S. Bank National Association has been appointed Notes Collateral Agent for the Notes Secured Parties hereunder
pursuant to Section 13.11 of the Indenture and by accepting the benefits of this Canadian Security Agreement, each other Notes Secured Party hereby appoints Canadian Bank National Association (together with its successors and assigns) as its Notes
Collateral Agent hereunder and under the other Collateral Documents. It is expressly understood and agreed by the parties to this Canadian Security Agreement that any authority conferred upon the Notes Collateral Agent hereunder is subject to
the terms of the delegation of authority made by the Trustee and each of the Holders to the Notes Collateral Agent pursuant to the Indenture, and that the Notes Collateral Agent has agreed to act (and any successor Notes Collateral Agent shall act)
as such hereunder only on the express conditions contained in such Section 13.11 of the Indenture. The Notes Collateral Agent shall have the benefits of all rights, protections, indemnities and immunities given to it under the
Indenture. Any successor Notes Collateral Agent appointed pursuant to Section 13.11 of the Indenture shall be entitled to all the rights, interests and benefits of the Notes Collateral Agent hereunder. 

[Remainder of page intentionally left blank; signatures begin on following page.] 

  
 - 27 - 

 IN WITNESS WHEREOF, each Grantor and the Notes Collateral Agent have executed this Canadian
Security Agreement as of the date first above written. 
  

			
	GRANTORS:
	
	SUNOPTA INC.
		
	By:	 	 /s/ Rick Albert

		
	Name:	 	 Rick Albert

		
	Title:	 	 Vice President and Treasurer

	
	SUNOPTA INVESTMENTS LTD.
		
	By:	 	 /s/ Rick Albert

		
	Name:	 	 Rick Albert

		
	Title:	 	 Vice President and Treasurer

	
	NOTES COLLATERAL AGENT:
	
	U.S. BANK NATIONAL ASSOCIATION, as Notes Collateral Agent
		
	By:	 	 /s/ Kathy Mitchell

		
	Name:	 	 Kathy Mitchell

		
	Title:	 	 Vice President

 [Signature page to Canadian Security Agreement] 

 SCHEDULE 1 

Pledged Collateral 
 Pledged Collateral
constituting Equity Interests 

 SCHEDULE 2 

Filing Offices 

 SCHEDULE 3 

Entity Types; Jurisdiction of Organization; Identification Numbers 

 SCHEDULE 4 

Chief Executive Offices; Principal Mailing Addresses 

 SCHEDULE 5 

Instruments and Chattel Paper 

 SCHEDULE 6 

Intellectual Property 

 SCHEDULE 7 

Commercial Claims 

 EXHIBIT A 

FORM OF JOINDER AGREEMENT 

THIS JOINDER AGREEMENT (this “Agreement”), dated as of
            ,     , 20    , is entered into between
                    , a                      (the
“New Subsidiary”) and U.S. BANK NATIONAL ASSOCIATION, as Notes Collateral Agent under that certain Indenture dated as of October [    ], 2016 (as amended, restated, extended, supplemented or otherwise modified
from time to time, the “Indenture”), among SUNOPTA INC. (the “Company”), SUNOPTA FOODS INC. (the “Issuer”), certain Subsidiaries of the Company and U.S. BANK NATIONAL
ASSOCIATION, as Trustee and Notes Collateral Agent (in such capacity, the “Notes Collateral Agent”). All capitalized terms used herein and not otherwise defined shall have the meanings set forth in the Indenture. 

The New Subsidiary and the Notes Collateral Agent, for the benefit of the Notes Secured Parties, hereby agree as follows: 

1. The New Subsidiary hereby acknowledges, agrees and confirms that, by its execution of this Agreement, the New Subsidiary will be deemed to
be a Subsidiary Grantor under the Second Lien Canadian Security Agreement, dated as of October [    ], 2016, among the Company, SunOpta Investments Ltd. and certain other Canadian Subsidiaries from time to time party thereto, in
favor of the Notes Collateral Agent for the benefit of the Notes Secured Parties (the “Canadian Security Agreement”) for all purposes of the Canadian Security Agreement and shall have all of the obligations of a Subsidiary Grantor
thereunder as if it had executed the Canadian Security Agreement all with the same force and effect as if the New Subsidiary were a signatory to the Canadian Security Agreement. In furtherance of the foregoing, the New Subsidiary hereby grants a
security interest to the Notes Collateral Agent for the benefit of the Notes Secured Parties in the property and property rights constituting Collateral (as defined in Article II of the Canadian Security Agreement) of such New Subsidiary or
in which such New Subsidiary has or may have or acquire an interest or the power to transfer rights therein, whether now owned or existing or hereafter created, acquired or arising and wherever located, as security for the payment and performance of
the Indenture Obligations. 
 2. The New Subsidiary hereby agrees that each reference in the Canadian Security Agreement to a Subsidiary
Grantor shall also mean and be a reference to the New Subsidiary. 
 3. Attached to this Agreement are duly completed schedules and, if
applicable, Canadian Intellectual Property Security Agreement, in each case, with respect to the New Subsidiary (the “Supplemental Schedules”) to the Canadian Security Agreement. The New Subsidiary represents and warrants that the
information contained on each of the Supplemental Schedules with respect to such New Subsidiary and its properties and affairs is true, complete and accurate in all material respects as of the date hereof. 

4. The New Subsidiary hereby waives acceptance by the Notes Collateral Agent and the other Notes Secured Parties of this Agreement and
acknowledges that the Indenture Obligations are and shall be deemed to be incurred under the Indenture are made and maintained in reliance on this Agreement and the New Subsidiary’s joinder as a party to the Canadian Security Agreement as
herein provided. 

 5. This Agreement may be executed in any number of counterparts and by the different parties
hereto on separate counterparts (including by facsimile or other electronic transmission (i.e., a “pdf” or “tif”), each of which when so executed and delivered shall be an original, but all of which shall together constitute one
and the same instrument. 
 THIS AGREEMENT SHALL BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH, THE LAWS OF THE PROVINCE OF ONTARIO AND
THE FEDERAL LAWS OF CANADA APPLICABLE THEREIN. 
 IN WITNESS WHEREOF, the New Subsidiary has caused this Agreement to be duly executed by
its authorized officer, and the Notes Collateral Agent, for the benefit of the Notes Secured Parties, has caused the same to be accepted by its authorized officer, as of the day and year first above written. 

 

			
	[NEW SUBSIDIARY]
		
	By:	 	  

	Name:	 	  

	Title:	 	  

  

			
	Acknowledged and accepted:
	U.S. BANK NATIONAL ASSOCIATION, as Notes Collateral Agent
		
	By:	 	  

	Name:	 	  

	Title:	 	  

  
 - 2 - 

 Schedule 1 

to the Supplement No.      to the 

Second Lien Canadian Security Agreement 

Pledged Collateral 
 Pledged Collateral
constituting Equity Interests 
  

																	
	 Issuer
	  	Record
Owner/Grantor	 	  	Certificate No.
(if applicable)	 	  	No. Shares/Interest	 	  	Percent
Pledged	 
		  				  				  				  			
		  				  				  				  			

 Pledged Collateral constituting Promissory Notes, Chattel Paper and Instruments 

 

																	
	 Issuer
	  	Grantor	 	  	Initial
Principal
Amount	 	  	Date of
Issuance	 	  	Maturity Date	 
		  				  				  				  			
		  				  				  				  			

 Schedule 2 

to the Supplement No.      to the 

Second Lien Canadian Security Agreement 

Filing Offices 
  

			
	 Grantor
	  	 Jurisdiction

		  	
		  	

 Schedule 3 

to the Supplement No.     to the 

Second Lien Canadian Security Agreement 

Entity Types; Jurisdictions of Organization; Identification Numbers 

 

									
	 Grantor
	  	 Type of

Entity
	  	 Organizational

Number
	  	 Federal

Taxpayer

Identification

Number/
 Canada
Revenue
 Agency Number
	  	 Jurisdiction

of

Formation

		  		  		  		  	
		  		  		  		  	

 Schedule 4 

to the Supplement No.      to the 

Second Lien Canadian Security Agreement 

Chief Executive Offices; Principal Mailing Addresses 
  

							
	 Grantor
	  	 Chief Executive Office
	  	 County of Chief

Executive

Office
	  	
Principal Mailing Address

		  		  		  	
		  		  		  	

 Schedule 5 

to the Supplement No.      to the 

Second Lien Canadian Security Agreement 

Instrument and Chattel Paper 

 Schedule 6 

to the Supplement No.      to the 

Second Lien Canadian Security Agreement 

Intellectual Property 
  

	A.	Patents, Trademarks and Industrial Designs 

 UNITED STATES PATENTS: 

Registrations: 
 Applications: 

CANADIAN PATENTS: 
 Registrations: 

Applications: 
 UNITED STATES TRADEMARKS: 

Registrations: 
 Applications: 

CANADIAN TRADEMARKS: 
 Registrations: 

Applications: 
 CANADIAN INDUSTRIAL DESIGNS: 

 

	B.	Copyrights 

 UNITED STATES COPYRIGHTS: 

Registrations: 
 Applications: 

CANADIAN COPYRIGHTS: 
 Registrations: 

Applications: 
  

	C.	Intellectual Property Licenses 

 Schedule 7 

to the Supplement No.      to the 

Second Lien Canadian Security Agreement 

Commercial Claims 

 EXHIBIT B 

Form of Short Form Canadian Intellectual Property Security AgreementEX-4.5

 Exhibit 4.5 

AMENDED AND RESTATED INTERCREDITOR AGREEMENT 

This AMENDED AND RESTATED INTERCREDITOR AGREEMENT (this
“Agreement”), is dated as of October 20, 2016 and entered into by and between Bank of America, N.A. (“Bank of America”), in its capacity as collateral agent for the First Lien Claimholders (as defined below), (in
such capacity, the “Initial First Lien Collateral Agent”, as hereinafter further defined), U.S. Bank National Association (“U.S. Bank”), in its capacity as collateral agent for the Second Lien Claimholders (as
defined below) (in such capacity, the “Initial Second Lien Collateral Agent”, as hereinafter further defined), each Additional First Lien Collateral Agent (as defined below) from time to time party hereto for the Additional First
Lien Claimholders (as defined below) and each Additional Second Lien Collateral Agent (as defined below) from time to time party hereto for the Additional Second Lien Claimholders (as defined below). Capitalized terms used in this Agreement
have the meanings assigned to them in Section 1 below. 
 R E C I T
A L S 
 A. SunOpta Inc., a corporation organized under the laws of Canada
(“SunOpta”), SunOpta Foods Inc., a Delaware corporation (“SunOpta Foods”), and certain other subsidiaries of SunOpta, the lenders party thereto and Bank of America, as administrative agent and collateral agent, have
entered into the First Lien Revolving Credit Agreement that provides for a multi-jurisdictional and multi-currency revolving credit facility; 

B. SunOpta Foods, the guarantors party thereto, the lending institutions from time to time party thereto and Bank of Montreal
(“BMO”), as administrative agent and collateral agent, are parties to the Second Lien Term Loan Agreement that provides for a senior secured term loan facility; 

C. Bank of America, in its capacity as administrative agent and collateral agent under the First Lien Revolving Credit Agreement, and BMO, in
its capacity as administrative agent and collateral agent under the Second Lien Term Loan Agreement, were parties to the Intercreditor Agreement, dated as of February 11, 2016 (the “Existing Intercreditor Agreement”); 

D. SunOpta Foods, the guarantors party thereto and U.S. Bank, as trustee and collateral agent, are entering into the Second Lien Notes
Indenture and SunOpta Foods intends to issue 9.5% Senior Secured Second Lien Notes due 2022 thereunder in exchange for all term loans outstanding under the Second Lien Term Loan Agreement and to terminate the obligations of SunOpta Foods and the
guarantors thereunder (the “Second Lien Term Loan Exchange”); 
 E. In connection with the Second Lien Term Loan Exchange,
the parties hereto have agreed to amend and restate the Existing Intercreditor Agreement in its entirety as set forth in this Agreement to, among other things, provide that U.S. Bank shall replace BMO as the Initial Second Lien Collateral Agent on
the date hereof. 
 F. Pursuant to the First Lien Revolving Credit Agreement, each of SunOpta and SunOpta Foods has agreed to cause certain
of its current and future subsidiaries to guarantee the 

 
First Lien Obligations (such current and future subsidiaries guaranteeing and/or, other than SunOpta and SunOpta Foods, becoming directly liable in respect of, any First Lien Obligations, the
“First Lien Guarantors”); and pursuant to the Second Lien Notes Indenture, SunOpta has agreed to guarantee and to cause certain of its current and future subsidiaries to guarantee the Second Lien Obligations (SunOpta and such
current and future subsidiaries (other than SunOpta Foods) guaranteeing and/or becoming directly liable in respect of, any Second Lien Obligations, the “Second Lien Guarantors”); 

G. The First Lien Obligations will be secured on a first priority basis by Liens on certain assets of the SunOpta, SunOpta Foods and the First
Lien Guarantors, respectively, pursuant to the terms of the First Lien Collateral Documents; 
 H. Subject to certain exceptions set forth
in the Agreed Security Principles, the Second Lien Obligations will be secured on a second priority basis by Liens on certain assets of SunOpta, SunOpta Foods and the Second Lien Guarantors, respectively, pursuant to the terms of the Second Lien
Collateral Documents; 
 I. The First Lien Documents and the Second Lien Documents provide, among other things, that the parties thereto
shall set forth in this Agreement their respective rights and remedies with respect to the Collateral and certain other matters; and 
 J.
In order to induce the First Lien Collateral Agents and the First Lien Claimholders to consent to the incurrence and securing of the Second Lien Obligations and to induce the First Lien Claimholders to extend credit and other financial
accommodations and lend monies to or for the benefit of any Grantor, each Second Lien Collateral Agent, on behalf of itself and the Second Lien Claimholders with respect to which such Second Lien Collateral Agent is acting as Agent, has agreed to
the terms and conditions set forth in this Agreement. 
 AGREEMENT 

In consideration of the foregoing, the mutual covenants and obligations herein set forth and for other good and valuable consideration, the
sufficiency and receipt of which are hereby acknowledged, the parties hereto, intending to be legally bound, hereby agree that the Existing Intercreditor Agreement is amended and restated in its entirety as follows: 

 

	SECTION 1.	DEFINITIONS. 

 Section 1.1. Defined
Terms. As used in the Agreement, the following terms shall have the following meanings: 
 “Additional First Lien
Claimholder” shall mean any person party to any Additional First Lien Document, as a lender, noteholder, owner, holder or creditor. 

  
 -2- 

 “Additional First Lien Collateral Agent” shall mean any agent, trustee or other
representative, if any, of the Additional First Lien Claimholders in respect of any Additional First Lien Obligations. 

“Additional First Lien Document” shall mean (i) any agreement, document or instrument governing or evidencing any Additional
First Lien Obligations and (ii) the First Lien Intercreditor Agreement. 
 “Additional First Lien Obligations” shall have
the meaning assigned to that term in Section 9.3. 
 “Additional Second Lien Claimholder” shall mean any person party to
any Additional Second Lien Document, as a lender, noteholder, owner, holder or creditor. 
 “Additional Second Lien Collateral
Agent” shall mean any agent, trustee or other representative, if any, of the Additional Second Lien Claimholders in respect of any Additional Second Lien Obligations. 

“Additional Second Lien Document” shall mean (i) any agreement, document or instrument governing or evidencing any
Additional Second Lien Obligations and (ii) the Second Lien Intercreditor Agreement. 
 “Additional Second Lien
Obligations” shall have the meaning assigned to that term in Section 9.3. 
 “Agents” shall mean,
collectively, each First Lien Collateral Agent and each Second Lien Collateral Agent, sometimes being referred to herein individually as an “Agent”. 

“Agreed Security Principles” shall mean the Agreed Security Principles as set out in Exhibit A hereto. 

“Agreement” shall have the meaning assigned to that term in the preamble to this Agreement. 

“Bank of America” shall have the meaning assigned to that term in the preamble to this Agreement. 

“Bankruptcy Code” shall mean Title 11 of the United States Code, as amended. 

“Bankruptcy Law” shall mean the Bankruptcy Code, the Bankruptcy and Insolvency Act (Canada), the Companies’
Creditors Arrangement Act (Canada), the Winding-up and Restructuring Act (Canada) and any similar federal, state, provincial or foreign law for the relief of debtors including any corporate statute that provides for same. 

“BMO” shall have the meaning assigned to that term in the Recitals to this Agreement. 

  
 -3- 

 “Borrowers” shall mean SunOpta, SunOpta Foods and any other Person that at any
time is or becomes a borrower or issuer in respect of any First Lien Obligations and/or any Second Lien Obligations, as the case may be, and their respective successors and assigns. 

“Business Day” shall mean any day (other than a Saturday or Sunday) on which banks are not authorized or required to close in
New York, New York or Toronto, Ontario. 
 “Capital Lease” shall mean, with respect to a Person, any lease or other
arrangement relating to property or assets which would be required to be accounted for as a capital lease on a balance sheet of that Person in accordance with GAAP. The amount of any Capital Lease at any date shall be the amount of the obligation in
respect thereof which would be included on the balance sheet. 
 “Cash Collateral” shall have such meaning as such term is
defined in Section 363(a) of the Bankruptcy Code. 
 “Collateral” shall mean all of the assets and property (whether
real, personal or mixed), rights, interests, and privileges of any Grantor constituting both First Lien Collateral and Second Lien Collateral. 

“Contingent Obligation” shall mean, as to any Person, any direct or indirect liability, contingent or otherwise, of that
Person: (a) with respect to any indebtedness, lease, dividend or other obligation of another Person if the primary purpose or intent of the Person incurring such liability, or the primary effect thereof, is to provide assurance to the obligee of
such liability that such liability of that Person will be paid or discharged, or that any agreements relating thereto will be complied with, or that the holders of such liability will be protected (in whole or in part) against loss with respect
thereto; (b) with respect to any letter of credit issued for the account of that Person or as to which that Person is otherwise liable for reimbursement of drawings; (c) under any agreement entered into by such Person in connection with the
management of foreign exchange risks and interest rate risks; (d) to make take-or-pay or similar payments if required regardless of non-performance by any other party or parties to an agreement; (e) for the obligations of another through any
agreement to purchase, repurchase or otherwise acquire any obligation of another Person or any property constituting security therefor, or to provide funds for the payment or discharge of such obligation; and (f) to maintain the solvency, financial
condition or any balance sheet item or level of income of another Person. The amount of any Contingent Obligation shall be equal to the amount of the obligation so guaranteed or otherwise supported or, if not a fixed and determined amount, the
maximum amount so guaranteed or supported. 
 “DCC” shall mean the Dutch Civil Code (Burgerlijk Wetboek). 

“Designated First Lien Collateral Agent” shall mean (i) if at any time there is only one First Lien Collateral Agent for the
First Lien Obligations with respect to which the Discharge of First Lien Obligations has not occurred, such First Lien Collateral Agent, (ii) at any time when clause (i) does not apply, the “Controlling Collateral Agent” or such similar
term under, or as defined in, the First Lien Intercreditor Agreement at such time. Each Second Lien Collateral 

  
 -4- 

 
Agent shall treat the Initial First Lien Collateral Agent as the Designated First Lien Collateral Agent until it receives a written notice from the Designated First Lien Collateral Agent that
another First Lien Collateral Agent became the Designated First Lien Collateral Agent.
 “Designated Second Lien Collateral
Agent” shall mean (i) the Initial Second Lien Collateral Agent, so long as the Second Lien Notes are the only Second Lien Obligations under this Agreement and (ii) at any time when clause (i) does not apply, the “Controlling Collateral
Agent” or such similar term under, or as defined in, the Second Lien Intercreditor Agreement at such time. Each First Lien Collateral Agent shall treat the Initial Second Lien Collateral Agent as the Designated Second Lien Collateral Agent
until it receives a written notice from the Designated Second Lien Collateral Agent that another Second Lien Collateral Agent became the Designated Second Lien Collateral Agent. 

“DIP Financing” shall have the meaning assigned to that term in Section 6.1. 

“Discharge of First Lien Obligations” shall mean: 

(a) payment in full in cash (or other consideration acceptable to each of the First Lien Claimholders) of the principal
of, reimbursement obligations with respect to, and interest, fees and expenses (including interest, fees and expenses accruing (or which would, absent the commencement of an Insolvency or Liquidation Proceeding, accrue) on or after the commencement
of any Insolvency or Liquidation Proceeding, whether or not such interest, fees and expenses would be allowed in such Insolvency or Liquidation Proceeding) on all Indebtedness constituting First Lien Obligations other than the First Lien Obligations
consisting of unasserted Contingent Obligations and other than any First Lien Obligations described in clause (d) of this definition that are cash collateralized; 

(b) payment in full in cash (or other consideration acceptable to each of the First Lien Claimholders) of all other First Lien
Obligations that are due and payable or otherwise accrued at or prior to the time such principal, reimbursement obligations, and interest are paid pursuant to clause (a) above; 

(c) termination or expiration of all commitments, if any, to extend credit that would constitute First Lien Obligations; and

 (d) termination or cash collateralization (in an amount and manner reasonably satisfactory to each applicable First Lien
Collateral Agent) of all letters of credit issued under the First Lien Documents and constituting First Lien Obligations. 
 “Dutch
Law Governed Liens” shall mean any Lien governed by the laws of the Netherlands. 
 “Event of Default” shall mean
an “Event of Default” under any First Lien Document or any Second Lien Document, as applicable. 

  
 -5- 

 “Existing Intercreditor Agreement” shall have the meaning assigned to that term
in the Recitals to this Agreement. 
 “First Lien Claimholders” shall mean, collectively, all “Lenders” as such
term is defined in the First Lien Revolving Credit Agreement and any similar term used in any Additional First Lien Documents, any person party to the First Lien Documents as a lender, noteholder, owner, holder, creditor or counterparty to a swap or
cash management agreement (and including any other lender, noteholder, owner, holder, creditor or counterparty to a swap or cash management agreement or group of lenders, noteholders, owners, holders, creditors or counterparties to swaps or cash
management agreement that at any time Refinances all or any portion of the First Lien Obligations or is otherwise party to the First Lien Documents as a lender, noteholder, owner, holder, creditor or counterparty to a swap or cash management
agreement); sometimes being referred to herein individually as a “First Lien Claimholder”. 
 “First Lien
Collateral” shall mean all of the assets and property of any Grantor, whether real, personal or mixed, with respect to which a Lien is granted or purported to be granted as security for any First Lien Obligations and shall include all
assets in which the First Lien Collateral Agents are deemed to have a lien pursuant to Section 2.3. 
 “First Lien Collateral
Agent” shall mean the Initial First Lien Collateral Agent and its successors and assigns and, if applicable after the date hereof, any Additional First Lien Collateral Agent and its successors and assigns, including any replacement or
successor agent or any additional agent, in its capacity as agent, trustee or other representative (if any) for any Additional First Lien Claimholders under any applicable Additional First Lien Documents. 

“First Lien Collateral Documents” shall mean the “Security Documents” as defined in the First Lien Revolving Credit
Agreement and any similar term used in any Additional First Lien Document to describe any Additional First Lien Document that creates and/or perfects or purports to create and/or perfect any Lien on the First Lien Collateral for the benefit of the
applicable First Lien Claimholders under such Additional First Lien Documents. 
 “First Lien Documents” shall mean (a) the
First Lien Revolving Credit Agreement, (b) the First Lien Collateral Documents, (c) any Additional First Lien Documents and (d) all other agreements, documents and instruments (including any applicable swap agreements or cash management agreements
secured by the First Lien Collateral Documents) at any time executed and/or delivered by any Grantor or any other person to, with, or in favor of, any First Lien Collateral Agent or any First Lien Claimholder in connection with the documents
referred to in clauses (a) through (c) above or related to any thereof, as all of the foregoing now exist or may hereafter be Refinanced. 

“First Lien Grantors” shall mean, collectively, SunOpta, SunOpta Foods, the First Lien Guarantors and each other Person that
has or may from time to time hereafter execute and deliver a First Lien Collateral Document as a “debtor,” “grantor” or “pledgor” (or the equivalent thereof). 

  
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 “First Lien Guarantors” shall have the meaning assigned to that term in the
Recitals to this Agreement. 
 “First Lien Intercreditor Agreement” shall mean, at any time when there are two or more
First Lien Collateral Agents, an intercreditor agreement among the First Lien Grantors and each of the First Lien Collateral Agents. 

“First Lien Obligations” shall mean all “Obligations” as such term is defined in the First Lien Revolving Credit
Agreement and any similar term used in any Additional First Lien Documents, obligations, liabilities and Indebtedness of every kind, nature and description owing by any Grantor to any First Lien Collateral Agent or any First Lien Claimholder,
including principal, interest, charges, fees, premiums, indemnities and expenses (including attorney’s fees and expenses), however evidenced, whether as principal, surety, endorser, guarantor or otherwise, arising under any of the First Lien
Documents, whether now existing or hereafter arising, whether arising before, during or after the initial or any renewal term of the First Lien Documents or after the commencement of any case with respect to any Grantor under the Bankruptcy Code or
any other Insolvency or Liquidation Proceeding (and including any principal, interest, fees, costs, expenses and other amounts which would accrue and become due but for the commencement of such case, whether or not such amounts are allowed or
allowable in whole or in part in such case or similar proceeding), whether direct or indirect, absolute or contingent, joint or several, due or not due, primary or secondary, liquidated or unliquidated, secured or unsecured. 

“First Lien Revolving Credit Agreement” shall mean the Credit Agreement, dated as of February 11, 2016, among SunOpta Inc.,
SunOpta Foods, Inc., The Organic Corporation B.V., and each of the other borrowers and guarantors party thereto, certain other parties thereto, Bank of America. N.A., as administrative agent, the Initial First Lien Collateral Agent and the lenders
from time to time party thereto. 
 “GAAP” shall mean generally accepted accounting principles in effect from time to time
in the United States, applicable to the relevant Person, applied in a consistent manner from period to period. 
 “Governmental
Authority” shall mean the government of the United States, Canada or any other nation, or of any political subdivision thereof, whether state, provincial or local, and any agency, authority, instrumentality, regulatory body, court, central
bank or other entity exercising executive, legislative, judicial, taxing, regulatory or administrative powers or functions of or pertaining to government (including any supra-national bodies such as the European Union or the European Central Bank).

 “Grantors” shall mean, collectively, each Person that is both a First Lien Grantor and a Second Lien Grantor. 

“Guarantors” shall mean, collectively, each Person that is both a First Lien Guarantor and a Second Lien Guarantor. 

  
 -7- 

 “Indebtedness” shall mean, with respect to any Person, without duplication, (a)
all debts and liabilities of the Person for borrowed money; (b) all Contingent Obligations of the Person; (c) any obligation, contingent or other, which is required to be classified in accordance with GAAP upon the Person’s balance sheet as a
liability; (d) any obligation secured by any Lien existing on property owned or acquired by the Person subject to the Lien whether or not the obligation secured thereby shall have been assumed; (e) any debt or liability of the Person representing
the deferred acquisition cost of property or assets created or arising under any conditional sale agreement or other title retention agreement even though the rights and remedies of the seller under that agreement in the event of default are limited
to repossession or sale of property or assets covered thereby; (f) any liabilities, contingent, unmatured or other, under indemnities given in respect of any bankers’ acceptance, letter of credit or letter of guarantee; (g) any operating lease
under which the Person has furnished a residual value guarantee in respect of which the Person is liable as lessee; and (h) any Capital Lease by which the Person is bound. 

“Initial First Lien Collateral Agent” shall mean Bank of America in its capacity as collateral agent under the First Lien
Revolving Credit Agreement and the other First Lien Documents to which it is a party, and also includes its successors and assigns, including any replacement or successor agent or any additional agent. 

“Initial Second Lien Collateral Agent” shall mean U.S. Bank, in its capacity as collateral agent under the Second Lien Notes
Indenture and the other Second Lien Documents to which it is a party, and also includes its successors and assigns, including any replacement or successor agent or any additional agent. 

“Insolvency or Liquidation Proceeding” shall mean: 

(a) any voluntary or involuntary case, proposal or proceeding under any Bankruptcy Law with respect to any Grantor; 

(b) any other voluntary or involuntary insolvency, reorganization or bankruptcy case, proposal or proceeding, or any
receivership, liquidation, reorganization or other similar case or proceeding with respect to any Grantor or with respect to a material portion of its respective assets; 

(c) any liquidation, dissolution, reorganization or winding up of any Grantor or its securities whether voluntary or
involuntary and whether or not involving insolvency or bankruptcy; 
 (d) any assignment for the benefit of creditors or any
other marshalling of assets and liabilities of any Grantor; or 
 (e) in relation to a Dutch Borrower (as defined in the
First Lien Revolving Credit Agreement), bankruptcy (faillissement) or, to the extent applicable, (provisional) suspension of payments ((voorlopige) surseance van betaling) as meant in the Dutch insolvency act (faillissementswet). 

  
 -8- 

 “Intercreditor Agreement Joinder” shall mean, with respect to any Grantor, any
Additional First Lien Collateral Agent or any Additional Second Lien Collateral Agent, an instrument substantially in the form of Exhibit B hereto, executed by such Grantor, such Additional First Lien Collateral Agent or such Additional Second Lien
Collateral Agent and, in the case of any Additional First Lien Collateral Agent or Additional Second Lien Collateral Agent, acknowledged by each applicable Agent in accordance with Section 9.3 hereof. 

“Lien” shall mean any deed of trust, mortgage, lien, security interest, pledge, hypothec, charge or encumbrance of any kind
in respect of any real, personal, tangible, intangible or mixed property, including the interests of a vendor or lessor under any conditional sale, Capital Lease or other title retention arrangement. 

“Lien Enforcement Action” shall mean (i) commencing any statutory, judicial, non-statutory or non-judicial foreclosure
proceedings with respect to the Collateral, or (ii) any action to take possession or control of, or sell or otherwise realize upon or otherwise exercise remedies with respect to the Collateral. 

“Obligations” shall mean the First Lien Obligations and the Second Lien Obligations, collectively and individually, as
context may require. 
 “PPSA” means the Personal Property Security Act (Ontario) and, to the extent applicable to the
perfection of security in the Collateral, any other comparable act in force in another Canadian province, in each case as amended or modified from time to time. 

“Permitted Reorganization Securities” shall mean debt or equity securities of any Grantor or any other Person, which (x) are
provided for by a plan of reorganization, composition, deed of company arrangement, plan of arrangement, adjustment or readjustment or proposal of any Grantor or of its securities or other liabilities that has been adopted pursuant to an Insolvency
or Liquidation Proceeding, or any other judicial, governmental or statutory proceeding, and confirmed or approved by a court or other Governmental Authority, if any, having jurisdiction over such proceeding, and (y) if secured by a Lien upon any
property of the reorganized debtor on account of the First Lien Obligations and the Second Lien Obligations, the provisions of this Agreement shall apply to such Liens. 

“Person” shall mean any natural person, partnership, corporation, limited liability company, association, trust,
unincorporated organization or any other entity or organization, including a government or agency or political subdivision thereof. 

“Pledged Collateral” shall have the meaning assigned to that term in Section 5.4. 

“Recovery” shall have the meaning assigned to that term in Section 6.6. 

“Refinance” shall mean, in respect of any Indebtedness (the “Refinanced Indebtedness”), any Indebtedness
incurred in exchange for or as a replacement of (including by entering into alternative financing arrangements in respect of such exchange or replacement (in whole or in part), by adding or replacing lenders, creditors, agents, borrowers and/or
guarantors, or, after the 

  
 -9- 

 
original instrument giving rise to such Indebtedness has been terminated, by entering into any credit agreement, loan agreement, note purchase agreement, indenture or other agreement), or the net
proceeds of which are to be used for the purpose of modifying, extending, refinancing, renewing, replacing, redeeming, repurchasing, defeasing, amending, supplementing, restructuring, repaying, prepaying, retiring, extinguishing or refunding such
Refinanced Indebtedness. “Refinanced” and “Refinancing” shall have correlative meanings. 
 “Release
Event” means the occurrence and continuance of an Event of Default under any First Lien Document and the taking of any Lien Enforcement Action by any First Lien Collateral Agent against all or any portion of the Collateral. 

“Second Lien Claimholders” shall mean any person party to the Second Lien Documents as a lender, noteholder, owner, holder,
creditor or counterparty to a swap or cash management agreement (and, including any other lender, noteholder, owner, holder, creditor or counterparty to a swap or cash management agreement or group of lenders, noteholders, owners, holders, creditors
or counterparties to swaps or cash management agreements that at any time Refinances all or any portion of the Second Lien Obligations or is otherwise party to the Second Lien Documents as a lender, noteholder, owner, holder, creditor or
counterparty to a swap or cash management agreement); sometimes being referred to herein individually as a “Second Lien Claimholder”. 

“Second Lien Collateral” shall mean all of the assets and property of any Grantor with respect to which a Lien is granted or
purported to be granted as security for any Second Lien Obligations. 
 “Second Lien Collateral Agent” shall mean the
Initial Second Lien Collateral Agent and its successors and assigns and any Additional Second Lien Collateral Agent and its successors and assigns, including any replacement or successor agent or trustee or any additional agent or trustee, in its
capacity as agent, trustee or other representative (if any) under any applicable Additional Second Lien Documents. 
 “Second Lien
Collateral Documents” shall mean the “Collateral Documents” as defined in the Second Lien Notes Indenture and any similar term used in any Additional Second Lien Document to describe any Additional Second Lien Document that
creates and/or perfects or purports to create and/or perfect any Lien on the Second Lien Collateral for the benefit of the applicable Second Lien Claimholders under such Additional Second Lien Documents. 

“Second Lien Documents” shall mean, collectively, the following: (a) the Second Lien Notes Indenture, (b) the Second Lien
Notes, (c) the Second Lien Collateral Documents, (d) any Additional Second Lien Documents and (e) all agreements, documents and instruments (including any applicable swap agreements or cash management agreements secured by the Second Lien Collateral
Documents) at any time executed and/or delivered by any Grantor or any other person to, with or in favor of, any Second Lien Collateral Agent or Second Lien Claimholder in connection with any of the documents referred to in clauses (a) through (d)
above or related to any thereto, as all of the foregoing now exist or may hereafter be Refinanced (in whole or in part). 

  
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 “Second Lien Grantors” shall mean, collectively, SunOpta, SunOpta Foods, the
Second Lien Guarantors and each other Person that has or may from time to time hereafter execute and deliver a Second Lien Collateral Document as a “debtor,” “grantor” or “pledgor” (or the equivalent thereof). 

“Second Lien Guarantors” shall have the meaning assigned to that term in the Recitals to this Agreement. 

“Second Lien Intercreditor Agreement” shall mean, at any time when there are two or more Second Lien Collateral Agents, an
intercreditor agreement among the Second Lien Grantors and each of the Second Lien Collateral Agents. 
 “Second Lien
Notes” shall mean, collectively, the 9.5% Senior Secured Second Lien Notes due 2022 issued by SunOpta Foods pursuant to the Second Lien Note Indenture. 

“Second Lien Notes Indenture” shall mean the Indenture, dated as of October 20, 2016, by and among SunOpta Foods, the
guarantors party thereto, the Trustee and the Initial Second Lien Collateral Agent with respect to the Second Lien Notes. 
 “Second
Lien Obligations” shall mean all obligations, liabilities and Indebtedness of every kind, nature and description owing by any Grantor to any Second Lien Collateral Agent or any Second Lien Claimholder, including principal, interest,
charges, fees, premiums, indemnities and expenses (including attorney’s fees and expenses), however evidenced, whether as principal, surety, endorser, guarantor or otherwise, arising under any of the Second Lien Documents, whether now existing
or hereafter arising, whether arising before, during or after the initial or any renewal term of the Second Lien Documents or after the commencement of any case with respect to any Grantor under the Bankruptcy Code or any other Insolvency or
Liquidation Proceeding (and including any principal, interest, fees, costs, expenses and other amounts that would accrue and become due but for the commencement of such case, whether or not such amounts are allowed or allowable in whole or in part
in such case or similar proceeding), whether direct or indirect, absolute or contingent, joint or several, due or not due, primary or secondary, liquidated or unliquidated, secured or unsecured. 

“Second Lien Term Loan Agreement” shall mean the Second Lien Loan Agreement, dated as of October 9, 2015, among SunOpta,
SunOpta Foods, the guarantors party thereto, the lending institutions party thereto, BMO, as administrative agent and collateral agent. 

“Second Lien Term Loan Exchange” shall have the meaning assigned to that term in the Recitals to this Agreement. 

“Standstill Period” shall have the meaning assigned to that term in Section 3.1. 

“SunOpta” shall have the meaning assigned to that term in the Recitals. 

“SunOpta Foods” shall have the meaning assigned to that term in the Recitals. 

  
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 “Triggering Event” shall mean the acceleration of any First Lien Obligations.

 “Trustee” shall mean the “Trustee” under and as defined in the Second Lien Notes Indenture. 

“UCC” shall mean the Uniform Commercial Code as in effect in the State of New York, as amended or modified from time to time.

 U.S. Bank” shall have the meaning assigned to that term in the preamble to this Agreement. 

Section 1.2. Terms Generally. With reference to this Agreement, unless otherwise specified herein: (a) the definitions
of terms herein shall apply equally to the singular and plural forms of the terms defined, (b) whenever the context may require, any pronoun shall include the corresponding masculine, feminine and neuter forms, (c) the words
“include”, “includes” and “including” shall be deemed to be followed by the phrase “without limitation”, (d) the word “will” shall be construed to have the same meaning and effect as the word
“shall”, (e) any reference herein to any Person shall be construed to include such Person’s successors and assigns and as to any Borrower, any Guarantor or any other Grantor, shall be deemed to include a receiver, trustee or
debtor-in-possession on behalf of such Person, (f) 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, (g) all references herein to Recitals, Sections, Exhibits and Schedules shall be construed to refer to Recitals and Sections of, and Exhibits and Schedules to, this Agreement, (h) 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, (i) the term “documents”
includes any and all instruments, documents, agreements, certificates, notices, reports, financial statements and other writings, however evidenced, whether in physical or electronic form, (j) in the computation of periods of time from a
specified date to a later specified date, the word “from” means “from and including;” the words “to” and “until” each mean “to but excluding;” and the word “through” means “to and
including”, (k) 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 amended, restated, renewed, extended, supplemented or
otherwise modified from time to time, and (l) Section headings herein are included for convenience of reference only and shall not affect the interpretation of this Agreement.

 

	SECTION 2.	LIEN PRIORITIES. 

 Section 2.1.
Relative Priorities. Each Second Lien Collateral Agent, for itself and on behalf of each Second Lien Claimholder with respect to which such Second Lien Collateral Agent is acting as Agent, and each First Lien Collateral Agent, for itself
and on behalf of each First Lien Claimholder with respect to which such First Lien Collateral Agent is acting as Agent, agrees that, notwithstanding the date, time, method, manner or order of grant, attachment or perfection of any Liens securing the
Second Lien Obligations granted on the Collateral (or purported to be granted on the Collateral) or of any Liens securing the First Lien Obligations 

  
 -12- 

 
granted on the Collateral and notwithstanding any provision of the UCC, PPSA, or any other applicable law or the Second Lien Documents or any defect or deficiencies in, or failure to perfect, the
Liens securing the First Lien Obligations or any other circumstance whatsoever: 
 (a) any Lien (other than the Dutch Law
Governed Liens) on the Collateral (or purported to be granted on the Collateral) securing any First Lien Obligations now or hereafter held by or on behalf of, or created for the benefit of, any First Lien Collateral Agent or any First Lien
Claimholders or any agent or trustee therefor, regardless of how acquired, whether by grant, possession, statute, operation of law, subrogation or otherwise, shall be senior in all respects and prior to any Lien on the Collateral (or purported to be
granted on the Collateral) securing any Second Lien Obligations; 
 (b) any Lien (other than the Dutch Law Governed Liens) on
the Collateral (or purported to be granted on the Collateral) securing any Second Lien Obligations now or hereafter held by or on behalf of, or created for the benefit of, any Second Lien Collateral Agent, any Second Lien Claimholders or any agent
or trustee therefor regardless of how acquired, whether by grant, possession, statute, operation of law, subrogation or otherwise, shall be junior and subordinate in all respects to all Liens on the Collateral (or purported to be granted on the
Collateral) securing any First Lien Obligations; and 
 (c) each Second Lien Claimholder agrees with any Dutch Borrower that
it, in accordance with clause 3:277 subsection 2 of the DCC, subordinates (achterstelt) all of its present and future claims (vorderingen) on such Dutch Borrower to any present and future claim of the First Lien Claimholder on such Dutch
Borrower. 
 All Liens on the Collateral (or purported to be granted on the Collateral) securing any First Lien Obligations shall be and
remain senior in all respects and prior to all Liens on the Collateral securing any Second Lien Obligations for all purposes, whether or not such Liens securing any First Lien Obligations are subordinated to any Lien securing any other obligation of
any Borrower, any other Grantor or any other Person, or are otherwise voided, avoided, invalidated or lapsed. 

Section 2.2. Prohibition on Contesting Liens. Each Second Lien Collateral Agent, for itself and on
behalf of each Second Lien Claimholder with respect to which such Second Lien Collateral Agent is acting as Agent, and each First Lien Collateral Agent, for itself and on behalf of each First Lien Claimholder with respect to which such First Lien
Collateral Agent is acting as Agent, agrees that it will not (and hereby waives any right to) contest or support any other Person in contesting, in any proceeding (including any Insolvency or Liquidation Proceeding), the priority, validity or
enforceability of a Lien held by or the allowability of any claim asserted by, or on behalf of any of the First Lien Claimholders in the First Lien Collateral or by or on behalf of any of the Second Lien Claimholders in the Second Lien Collateral,
as the case may be, or the provisions of this Agreement; provided that nothing in this Agreement shall be construed to (a) prevent or impair the rights of any First Lien Collateral Agent or any First Lien Claimholder to enforce this
Agreement, including the provisions of this Agreement relating to the priority of the Liens securing the First Lien Obligations as provided in Sections 2.1 and 3.1, or (b) restrict the ability of the Second Lien Collateral Agent or any Second
Lien Claimholder to vote in a manner 

  
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that is consistent with the terms and conditions of this Agreement on any plan of reorganization, plan of arrangement, proposal or similar plan in any Insolvency or Liquidation Proceeding, or
take any action expressly permitted by Section 3.1(c). 
 Section 2.3. New Liens and Guarantors. So
long as the Discharge of First Lien Obligations has not occurred, and regardless of whether any Insolvency or Liquidation Proceeding has been commenced by or against a Borrower or any other Grantor, the parties hereto (including each Borrower and
each other Grantor) agree that (a) no Borrower shall, nor shall it permit any other Grantor to, grant or permit any additional Liens on any asset or property to secure any Second Lien Obligation unless it has granted or concurrently grants a
Lien on such asset or property to secure the First Lien Obligations, and (b) except as permitted by the Agreed Security Principles, no Borrower shall, nor shall it permit any other Grantor to, grant or permit any additional Liens on any asset
or property to secure any First Lien Obligation unless it has granted or concurrently grants a Lien on such asset or property to secure the Second Lien Obligations or such asset or property is excluded from the Second Lien Collateral pursuant to the
Second Lien Documents. To the extent that this Section 2.3 is not complied with for any reason, without limiting any other rights and remedies available to the First Lien Collateral Agents and/or the First Lien Claimholders, each Second Lien
Collateral Agent, on behalf of itself and the Second Lien Claimholders with respect to which such Second Lien Collateral Agent is acting as Agent, agrees that any amounts received by or distributed to any of them pursuant to or as a result of Liens
granted in contravention of this Section 2.3 shall be subject to Section 4.2. 
 Section 2.4. Similar
Liens and Agreements. Other than as provided by and in accordance with the Agreed Security Principles, the parties hereto (including the Borrowers and each other Grantor) agree that it is their intention that the First Lien Collateral and
the Second Lien Collateral be substantially identical. In furtherance of the foregoing and of Section 9.9, the parties hereto agree, subject to the other provisions of this Agreement: 

(a) upon request by any First Lien Collateral Agent or any Second Lien Collateral Agent, to cooperate in good faith (and to direct their
counsel to cooperate in good faith) from time to time in order to determine the specific items included in the First Lien Collateral and the Second Lien Collateral and the steps taken to perfect their respective Liens thereon and the identity of the
respective parties obligated under the First Lien Documents and the Second Lien Documents; and 
 (b) to provide that any Lien obtained by
any First Lien Claimholder or any Second Lien Claimholder in respect of any judgment obtained in respect of any Obligations shall be subject in all respects to the terms of this Agreement. 

Notwithstanding anything in this Agreement or any other First Lien Documents or Second Lien Document to the contrary, collateral consisting of cash and
deposit account balances pledged to secure First Lien Obligations consisting solely of reimbursement obligations in respect of Letters of Credit issued pursuant to any First Lien Documents, including such cash deposit balances held pursuant to
Section 8.15(c) of the First Lien Revolving Credit Agreement (or any equivalent successor provision) shall be applied as specified in the First Lien Documents and will not be subject to provisions of Sections 2.3 and 2.4 of this Agreement. 

  
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	SECTION 3.	ENFORCEMENT. 

 Section 3.1. Exercise of
Remedies. (a) Until the Discharge of First Lien Obligations has occurred, and regardless of whether any Insolvency or Liquidation Proceeding has been commenced by or against a Borrower or any other Grantor, each Second Lien
Collateral Agent, on behalf of itself and the Second Lien Claimholders with respect to which such Second Lien Collateral Agent is acting as Agent, agrees that such Second Lien Collateral Agent and such Second Lien Claimholders: 

(i) will not initiate or maintain any Lien Enforcement Action; provided, however, that such Second Lien
Collateral Agent and any such Second Lien Claimholder may exercise any or all rights or remedies with respect to the Collateral after the period of at least 180 days has elapsed since the date on which the Designated First Lien Collateral Agent
received notice from any Second Lien Collateral Agent of the occurrence of an Event of Default under any Second Lien Obligations under the Second Lien Documents and of its intent to exercise rights and remedies with respect to the Collateral (the
“Standstill Period”); provided, further, however, that notwithstanding anything herein to the contrary, in no event shall such Second Lien Collateral Agent or any such Second Lien Claimholder exercise any rights
or remedies with respect to the Collateral if, notwithstanding the expiration of the Standstill Period, any First Lien Collateral Agent or any First Lien Claimholders shall have commenced and be diligently pursuing the exercise of their rights or
remedies with respect to all or any material portion of the Collateral or is stayed from exercising any rights and remedies under applicable law (including any Bankruptcy Law); 

(ii) will not contest, oppose, protest or object to any Lien Enforcement Action or action brought by any First Lien Collateral
Agent or any First Lien Claimholder or any other exercise by any First Lien Collateral Agent or any First Lien Claimholder of any rights and remedies relating to the Collateral under the First Lien Documents or otherwise (including set-off and the
right to credit bid their debt) and has no right to direct any First Lien Collateral Agent to take any foreclosure or other action; 

(iii) subject to their rights under the first proviso to clause (a)(i) above, will not object to (and waive any and all claims
with respect to) the forbearance by any First Lien Collateral Agent or any First Lien Claimholders from bringing or pursuing any foreclosure proceeding or action or any other exercise of any rights or remedies relating to the Collateral, in each
case so long as the Liens granted to secure the Second Lien Obligations of the Second Lien Collateral Agents and the Second Lien Claimholders attach to the proceeds thereof subject to the relative priorities described in Section 2; 

(iv) will not deliver or require any Grantor to deliver any notice or direction to any third party (including, without
limitation, any bank, insurance company or contract counterparty) or seek to enter into any direct agreement with any such third party in relation to the Collateral of such Grantor. 

  
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 (b) Until the Discharge of First Lien Obligations has occurred, whether or not any Insolvency or
Liquidation Proceeding has been commenced by or against a Borrower or any other Grantor, subject to the first proviso to Section 3.1(a)(i), the First Lien Collateral Agents and the First Lien Claimholders shall have the exclusive right to
initiate or maintain any Lien Enforcement Action without any consultation with or the consent of any Second Lien Collateral Agent or any Second Lien Claimholder. In exercising rights and remedies with respect to the Collateral, each First Lien
Collateral Agent and each First Lien Claimholder may enforce the provisions of the First Lien Documents and exercise remedies thereunder (including set-off and the right to credit bid their debt), all in such order and in such manner as they may
determine in the exercise of their sole discretion. Such exercise and enforcement shall include the rights of an agent appointed by them to sell or otherwise dispose of Collateral upon foreclosure, to incur expenses in connection with such sale
or disposition, and to exercise all the rights and remedies of a secured creditor under the UCC and of a secured creditor under Bankruptcy Laws of any applicable jurisdiction. 

(c) Notwithstanding the foregoing clauses (a) and (b), any Second Lien Collateral Agent and any Second Lien Claimholder may, to the extent the
same (x) would be in compliance with Section 2 and (y) would not materially hinder or interfere with any Lien Enforcement Action that is being taken by any First Lien Collateral Agent or any First Lien Claimholders: 

(i) file a claim, proof of claim or statement of interest with respect to the Second Lien Obligations in a manner that is
consistent with the terms and conditions of this Agreement; provided that an Insolvency or Liquidation Proceeding has been commenced by or against any Borrower or any other Grantor or the respective property; 

(ii) take any action in order to create, perfect, preserve or protect (but not enforce) its Lien on the Collateral pursuant to
the Second Lien Collateral Documents, so long as such action is (x) not adverse to the priority status in accordance with this Agreement of Liens on the Collateral securing the First Lien Obligations or the rights of the First Lien Collateral
Agents’ or the First Lien Claimholders’ to exercise remedies and (y) is otherwise in accordance with this Agreement; 

(iii) file any responsive or defensive pleadings or other materials in opposition to any motion, claim, adversary proceeding or
other pleading made by any Person objecting to or otherwise seeking the disallowance of the claims or Liens of the Second Lien Claimholders, including any claims secured by the Collateral, if any, in each case in accordance with the terms of this
Agreement; 
 (iv) vote on any plan of reorganization, plan of arrangement, proposal or similar plan in any Insolvency or
Liquidation Proceeding (subject in the case of the Initial Second Lien Collateral Agent and the Trustee, to the provisions of the Second Lien Notes Indenture restricting any such vote) in a manner that is consistent with the terms and conditions of
this Agreement, file any proof of claim, make other filings and make any arguments and motions with respect to the Second Lien Obligations and the Collateral that may be asserted by an unsecured creditor so long as such filings, arguments and
motions do not violate or are otherwise inconsistent with this Agreement; 

  
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 (v) exercise any of its rights or remedies with respect to the Collateral after
the termination of the Standstill Period to the extent permitted by Section 3.1(a)(i); 
 (vi) bid for or purchase
Collateral at any private, judicial or public sale or foreclosure of such Collateral (including any sale in any Insolvency or Liquidation Proceeding); provided that such bid may not include a “credit bid” in respect of any Second
Lien Obligations unless the net cash proceeds of such bid are sufficient to cause the Discharge of First Lien Obligations at the closing of such bid; and 

(vii) inspect or appraise the Collateral or receive information or reports concerning the Collateral in accordance with the
Second Lien Collateral Documents. 
 Each Second Lien Collateral Agent, on behalf of itself and the Second Lien Claimholders with respect to
which such Second Lien Collateral Agent is acting as Agent, agrees that it will not take or receive any Collateral or any proceeds of Collateral in connection with the exercise of any right or remedy (including
set-off) with respect to any Collateral, until the Discharge of First Lien Obligations has occurred, except as expressly provided in Section 3.1(a)(i), and any Collateral or proceeds thereof received in
connection with any such exercise pursuant to Section 3.1(a)(i) shall be applied pursuant to Section 4. Without limiting the generality of the foregoing, until the Discharge of First Lien Obligations has occurred, except as expressly provided
in Sections 3.1(a), 6.3(b) and this Section 3.1(c), the sole right of the Second Lien Collateral Agents and the Second Lien Claimholders with respect to the Collateral is to hold a Lien on the Collateral pursuant to the Second Lien Collateral
Documents for the period and to the extent granted therein and to receive the proceeds thereof, if any, after the Discharge of First Lien Obligations has occurred. 

(d) Subject to Sections 3.1(a), (c) and (e), Section 6.1 and Section 6.3(b): 

(i) each Second Lien Collateral Agent, for itself and on behalf of the Second Lien Claimholders with respect to which such
Second Lien Collateral Agent is acting as Agent, agrees that such Second Lien Collateral Agent and such Second Lien Claimholders will not take any action that would hinder any exercise of remedies under the First Lien Documents or is otherwise
prohibited hereunder, including any sale, lease, exchange, transfer or other disposition of the Collateral, whether by foreclosure or otherwise; 

(ii) each Second Lien Collateral Agent, for itself and on behalf of the Second Lien Claimholders with respect to which such
Second Lien Collateral Agent is acting as Agent, hereby waives any and all rights it or such Second Lien Claimholders may have as a junior lien creditor to object to the manner in which any First Lien Collateral Agent or any First Lien Claimholder
seeks to enforce or collect the First Lien Obligations or the Liens securing the First Lien Obligations granted in any of the First Lien Collateral undertaken in accordance with this Agreement, regardless of whether any action or failure to act by
or on behalf of any First Lien Collateral Agent or any First Lien Claimholder is adverse to the interest of the Second Lien Claimholders; and 

(iii) each Second Lien Collateral Agent, for itself and on behalf of the Second Lien Claimholders with respect to which such
Second Lien Collateral Agent is acting as Agent, hereby acknowledges and agrees that no covenant, agreement or restriction contained in the Second Lien Collateral Documents or any other Second Lien Documents (other than this Agreement) shall be
deemed to restrict in any way the rights and remedies of any First Lien Collateral Agent or any First Lien Claimholder with respect to the Collateral as set forth in this Agreement and the First Lien Documents; provided, however, that nothing
in this section shall be deemed to waive any default or event of default that may arise under any Second Lien Documents. 

  
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 (e) Except as specifically set forth in Section 2.2, Sections 3.1(a) and (d) and
Section 6.1, nothing in this Agreement shall prevent the Second Lien Collateral Agents and the Second Lien Claimholders from exercising rights and remedies available to unsecured creditors against a Borrower or any other Grantor that has
granted Liens to secure the Second Lien Obligations (both prior to and during an Insolvency or Liquidation proceeding) in accordance with the terms of the Second Lien Documents and applicable law so long as such rights and remedies do not violate,
or not otherwise inconsistent with, any provision of this Agreement; provided that in the event that any Second Lien Claimholder becomes a judgment Lien creditor in respect of Collateral as a result of its enforcement of rights available to
an unsecured creditor with respect to the Second Lien Obligations, such judgment Lien shall be subject to the terms of this Agreement for all purposes (including in relation to the First Lien Obligations) as the other Liens securing the Second Lien
Obligations are subject to this Agreement. 
 (f) Nothing in this Agreement shall prohibit the receipt by any Second Lien Collateral Agent
or any Second Lien Claimholder of the required payments of interest, principal and other amounts owed in respect of the Second Lien Obligations so long as such receipt is not the direct or indirect result of the exercise by any Second Lien
Collateral Agent or any Second Lien Claimholder of rights or remedies (including set-off) in respect of the Collateral. Nothing in this Agreement shall impair or otherwise adversely affect any rights
or remedies any First Lien Collateral Agent or any First Lien Claimholder may have with respect to the First Lien Collateral. 
  

	SECTION 4.	PAYMENTS. 

 Section 4.1. Application of Proceeds.
So long as the Discharge of First Lien Obligations has not occurred, and regardless of whether any Insolvency or Liquidation Proceeding has been commenced by or against a Borrower or any other Grantor, Collateral or proceeds thereof received in
connection with the sale or other disposition of, or collection on, such Collateral upon the exercise of remedies by the First Lien Collateral Agents or First Lien Claimholders, shall be applied by the Designated First Lien Collateral Agent first,
to any costs of collection, enforcement, release of security and other related costs of the First Lien Collateral Agents and, to the extent acting at the direction or request of a First Lien Collateral Agent, the Second Lien Collateral Agent, and
then to the First Lien Obligations in such order as specified in the relevant First Lien Documents (including the First Lien Intercreditor Agreement, if any). Upon the Discharge of First Lien Obligations, the Designated First Lien Collateral
Agent shall deliver to the Designated Second Lien Collateral Agent any Collateral and proceeds of Collateral held by it 

  
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in the same form as received, with any necessary endorsements or as a court of competent jurisdiction may otherwise direct to be applied by the Designated Second Lien Collateral Agent to the
Second Lien Obligations in such order as specified in the Second Lien Documents (including the Second Lien Intercreditor Agreement, if any). 

Section 4.2. Payments Over. So long as the Discharge of First Lien Obligations has not occurred, and
regardless of whether any Insolvency or Liquidation Proceeding has been commenced by or against a Borrower or any other Grantor, any Collateral or proceeds thereof (including assets or proceeds subject to Liens referred to in the final sentence of
Section 2.3 and/or Sections 6.3 and 6.7 but excluding Permitted Reorganization Securities and/or any cash payments for current fees and expenses permitted under Section 6.3(b)(v)) received by any Second Lien Collateral Agent or any Second
Lien Claimholder in connection with the exercise of any right or remedy (including set-off) relating to the Collateral shall be segregated and held in trust and forthwith paid over to the Designated First Lien
Collateral Agent, for the benefit of the First Lien Claimholders, in the same form as received, with any necessary endorsements or as a court of competent jurisdiction may otherwise direct. The Designated First Lien Collateral Agent is hereby
authorized to make any such endorsements as agent for any such Second Lien Collateral Agent or any such Second Lien Claimholders. This authorization is coupled with an interest and is irrevocable until the Discharge of First Lien Obligations
has occurred. 
  

	SECTION 5.	RELEASES; DISPOSITIONS; OTHER AGREEMENTS. 

Section 5.1. Releases. (a) Until the Discharge of First Lien Obligations, each First Lien Collateral
Agent, on behalf of the First Lien Claimholders with respect to which such First Lien Collateral Agent is acting as Agent, will have the exclusive right (subject to the first proviso to Section 3.1(a)(i) above and the provisions of
clause (b) below) to make determinations regarding the release or disposition of any Collateral in connection with any Release Event or otherwise, without any consultation with, consent of or notice to any Second Lien Collateral Agent or any
Second Lien Claimholder.
 (i) If in connection with a Release Event and the application of the proceeds of sale thereof in
accordance with Section 4.1, any First Lien Collateral Agent, for itself or on behalf of any of the First Lien Claimholders with respect to which such First Lien Collateral Agent is acting as Agent, releases any of its Liens on any part of the
Collateral or releases any Guarantor from its obligations under its guarantee of the First Lien Obligations upon the sale of such Collateral or all the equity interests of any Grantor, then the Liens, if any, of each Second Lien Collateral Agent,
for itself or for the benefit of the Second Lien Claimholders with respect to which such Second Lien Collateral Agent is acting as Agent, on such Collateral, and the obligations of such Guarantor under its guarantee of the Second Lien Obligations,
shall be automatically, unconditionally and simultaneously released; provided that, such release by the Second Lien Collateral Agents and the Second Lien Claimholders shall not extend to or otherwise affect any of the rights of the Second
Lien Collateral Agents or the Second Lien Claimholders to the proceeds from any such sale or other disposition of Collateral that remain after the Discharge of First Lien Obligations, subject to the terms hereof.

  
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 (ii) If, other than in connection with a Release Event, any First Lien Collateral
Agent, for itself or on behalf of any of the First Lien Claimholders with respect to which such First Lien Collateral Agent is acting as Agent, releases any of its Liens on any part of the Collateral, or all the equity interests of any Grantor or
releases a Guarantor from its obligation under its guarantee of the First Lien Obligations, then the Liens, if any, of each Second Lien Collateral Agent, for itself or for the benefit of the Second Lien Claimholders with respect to which such Second
Lien Collateral Agent is acting as Agent, on such Collateral shall be automatically, unconditionally and simultaneously released and such Guarantor shall be released from its Obligations under its guarantee of the Second Lien Obligations (unless
such release occurs in connection with the discharge in full of the then outstanding First Lien Obligations, which discharge is not in connection with a replacement or refinancing of such First Lien Obligations, it being understood that in the case
of such a replacement or refinancing, the Second Lien Obligations will be secured on a second priority basis by Collateral that secures First Lien Obligations that are outstanding after giving effect to any such replacement or refinancing, subject
to the Agreed Security Principles); 
 (iii) Each Second Lien Collateral Agent, for itself or on behalf of any such Second
Lien Claimholders with respect to which such Second Lien Collateral Agent is acting as Agent, promptly shall execute and deliver to the Designated First Lien Collateral Agent or such Guarantor such termination statements, releases and other
documents as such First Lien Collateral Agent or such Guarantor may reasonably request to effectively confirm any release contemplated by this Section 5.1. In the event the closing of the sale or disposition of the Collateral subject to release
pursuant to this Section 5.1 in the case of a Release Event is not consummated, each applicable First Lien Collateral Agent shall promptly return all release documents to each applicable Second Lien Collateral Agent. 

(b) If in connection with any disposition of any Collateral permitted under the terms of the First Lien Documents and Second Lien Documents,
any First Lien Collateral Agent, for itself or on behalf of any of the First Lien Claimholders with respect to which such First Lien Collateral Agent is acting as Agent, releases any of its Liens on any part of such Collateral being disposed of, or
releases any Guarantor from its obligations under its guarantee of the First Lien Obligations upon the sale of all the equity interests of such Grantor, then the Liens, if any, of each Second Lien Collateral Agent, for itself or for the benefit of
the Second Lien Claimholders with respect to which such Second Lien Collateral Agent is acting as Agent, on such Collateral, and the obligations of such Guarantor under its guarantee of the Second Lien Obligations shall be automatically,
unconditionally and simultaneously released irrespective of the existence of an event of default under the Second Lien Documents at the time of the disposition or release. Each Second Lien Collateral Agent, for itself or on behalf of the Second Lien
Claimholders with respect to which such Second Lien Collateral Agent is acting as Agent, promptly shall execute and deliver to such First Lien Collateral Agent or such Guarantor such customary termination statements, releases and other documents as
such First Lien Collateral Agent or such Guarantor may reasonably request to effectively confirm such release in connection with such disposition. 

  
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 (c) Until the Discharge of First Lien Obligations has occurred, each Second Lien Collateral
Agent, for itself and on behalf of the Second Lien Claimholders with respect to which such Second Lien Collateral Agent is acting as Agent, hereby irrevocably constitutes and appoints each First Lien Collateral Agent and any officer or agent of such
First Lien Collateral Agent, with full power of substitution, as its true and lawful attorney-in-fact with full irrevocable power and authority in the place and stead of
such Second Lien Collateral Agent or such holder or in such First Lien Collateral Agent’s own name, from time to time in such First Lien Collateral Agent’s discretion, for the purpose of carrying out the terms of this Section 5.1, to
take any and all appropriate action and to execute any and all documents and instruments which may be reasonably necessary to accomplish the purposes of this Section 5.1, including any endorsements or other instruments of transfer or release;
provided that such First Lien Collateral Agent shall only exercise such right upon the failure of such Second Lien Collateral Agent to take any action or execute any document or instrument when required to do so pursuant to the terms of this
Section 5.1. 
 (d) Until the Discharge of First Lien Obligations has occurred, to the extent that the First Lien Collateral Agents or
the First Lien Claimholders (i) have released any Lien on Collateral and any such Liens are later reinstated or (ii) obtain any new Liens then, subject to certain exceptions set forth in the Second Lien Documents and subject to the Agreed
Security Principles, each Second Lien Collateral Agent, for itself and for the Second Lien Claimholders with respect to which such Second Lien Collateral Agent is acting as Agent, shall be granted a Lien on any such Collateral, subject to the lien
subordination or other provisions of this Agreement. 
 Section 5.2. Insurance. Until the Discharge of
First Lien Obligations has occurred, the First Lien Collateral Agents and the First Lien Claimholders shall have the sole and exclusive right, subject to the rights of the Grantors under the First Lien Documents, to adjust settlement for any
insurance policy covering the Collateral in the event of any loss thereunder and to approve any award granted in any condemnation or similar proceeding (or any deed in lieu of condemnation) affecting the Collateral. Until the Discharge of First Lien
Obligations has occurred, and subject to the rights of the Grantors under the First Lien Documents, all proceeds of any such policy and any such award (or any payments with respect to a deed in lieu of condemnation) if in respect of the Collateral
shall be paid to the Designated First Lien Collateral Agent for the benefit of the First Lien Claimholders pursuant to the terms of the First Lien Documents (including the First Lien Intercreditor Agreement, if any) (including for purposes of cash
collateralization of letters of credit) and thereafter, to the extent no First Lien Obligations are outstanding, and subject to the rights of the Grantors under the Second Lien Documents, to the Designated Second Lien Collateral Agent for the
benefit of the Second Lien Claimholders to the extent required under the Second Lien Collateral Documents and then, to the extent no First Lien Obligations or Second Lien Obligations are outstanding to the owner of the subject property, such other
Person as may be entitled thereto or as a court of competent jurisdiction may otherwise direct. Until the Discharge of First Lien Obligations has occurred, if any Second Lien Collateral Agent or any Second Lien Claimholder shall, at any time,
receive any proceeds of any such insurance policy or any such award or payment in contravention of this Agreement, it shall pay such proceeds over to the Designated First Lien Collateral Agent in accordance with the terms of Section 4.2. 

  
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 Section 5.3. Amendments to First Lien Documents and Second Lien
Documents. (a) The First Lien Documents may be amended, restated, renewed, extended, supplemented or otherwise modified in accordance with their terms and the First Lien Obligations may be Refinanced, in each case without notice to, or
the consent of, any Second Lien Collateral Agent or any Second Lien Claimholder, all without affecting the lien subordination or other provisions of this Agreement; provided, however, that (i) such Refinancing is permitted by the
Second Lien Documents and (ii) the holders of such Refinancing debt (or their representative, agent or trustee on behalf of such holders) bind such holders to the terms of this Agreement, as First Lien Claimholders, by executing and delivering an
Intercreditor Agreement Joinder or in a writing addressed to each other First Lien Collateral Agent (if any) for the benefit of itself and the First Lien Claimholders with respect to which such First Lien Collateral Agent is acting as Agent and each
Second Lien Collateral Agent, for the benefit of itself and the Second Lien Claimholders with respect to which such Second Lien Collateral Agent is acting as Agent. 

(b) In the event that each applicable First Lien Collateral Agent and/or the First Lien Claimholders enter into any amendment, restatement,
waiver or consent in respect of any of the First Lien Collateral Documents for the purpose of adding to or deleting from, or waiving or consenting to any departures from any provisions of, any First Lien Collateral Document or changing in any manner
the rights of the First Lien Collateral Agents, the First Lien Claimholders or any Grantor thereunder (including the release of any Liens in First Lien Collateral) in a manner that is applicable to all First Lien Obligations, then such amendment,
waiver or consent shall apply automatically to any comparable provision of each comparable Second Lien Collateral Document without the consent of any Second Lien Collateral Agent or any Second Lien Claimholder and without any action by any Second
Lien Collateral Agent or any Grantor; provided, however, that (x) no such amendment, restatement, waiver or consent shall (i) remove assets subject to the Lien of any Second Priority Collateral Document, except as provided for in
Section 5.1(a) or (b) in respect of a concurrent release of the corresponding Lien of any First Priority Collateral Document or (ii) amend, modify or otherwise adversely affect the rights or duties of any Second Lien Collateral Agent without
its prior written consent and (y) written notice of such amendment, restatement, waiver or consent shall have been given to each Second Lien Collateral Agent within 10 Business Days after the effectiveness of such amendment, restatement, waiver
or consent. 
 (c) Prior to the Discharge of First Lien Obligations, without the prior written consent of the First Lien Collateral Agents,
no Second Lien Document may be amended, restated, renewed, extended, supplemented, otherwise modified to the extent such any such amendment, restatement, renewal, extension, supplement or other modification or the terms of any new Second Lien
Document would contravene the provisions of this Agreement.
 (d) The Second Lien Obligations may be Refinanced to the extent that (i) such
refinancing is permitted by the First Lien Documents and (ii) the holders of such Refinancing debt (or their representative, agent or trustee on behalf of such holders) bind such holders to the terms of this Agreement, as Second Lien Claimholders,
by executing and delivering an Intercreditor Agreement Joinder or in a writing addressed to each First Lien Collateral Agent for the benefit of itself and the First Lien Claimholders with respect to which such First Lien Collateral Agent is acting
as Agent and each other Second Lien Collateral Agent (if any), for the benefit of itself and the Second Lien Claimholders with respect to which such Second Lien Collateral Agent is acting as Agent. 

  
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 (e) Each Borrower agrees that each Second Lien Collateral Document shall at all times include the
following language (or language to similar effect approved by the Designated First Lien Collateral Agent): 

“Notwithstanding anything herein to the contrary, the lien and security interest granted to [the applicable Second Lien
Collateral Agent] pursuant to this Agreement and the exercise of any right or remedy by the Second Lien Collateral Agent hereunder are subject to the provisions of the Amended and Restated Intercreditor Agreement dated as of October 20, 2016 (as
amended, restated, renewed, extended, supplemented or otherwise modified from time to time, the “Intercreditor Agreement”), between Bank of America, N.A., as Initial First Lien Collateral Agent, and U.S. Bank National
Association, as Initial Second Lien Collateral Agent, and certain other persons party or that may become party thereto from time to time. In the event of any conflict between the terms of the Intercreditor Agreement and this Agreement, the
terms of the Intercreditor Agreement shall govern and control.” 
 Section 5.4. Bailee for
Perfection. (a) Except with respect to cash collateral held pursuant to the terms of the First Lien Revolving Credit Agreement as in effect on the date hereof, each First Lien Collateral Agent agrees to hold that part of the Collateral
that is in its possession or control (or in the possession or control of its agents or bailees), to the extent that possession or control thereof is taken to perfect a Lien thereon under the UCC or PPSA, as applicable, or any similar applicable law
(such Collateral being the “Pledged Collateral”), as collateral agent for the First Lien Claimholders and as bailee and agent for the Second Lien Collateral Agents (such bailment being intended, among other things, to satisfy the
requirements of Sections 8-301(a)(2) and 9-313(c) of the UCC or any comparable provisions of the PPSA, as applicable, or any similar applicable law), and any
assignee of such First Lien Collateral Agent solely for the purpose of perfecting the security interest granted under the First Lien Documents and the Second Lien Documents, respectively shall be subject to the terms and conditions of this
Section 5.4. Each Second Lien Collateral Agent, for itself and on behalf of the Second Lien Claimholders with respect to which such Second Lien Collateral Agent is acting as Agent, appoints each First Lien Collateral Agent as its agent
solely for the purpose of perfecting its security interest in the Pledged Collateral, including Deposit Accounts and Securities Accounts (as such terms are defined in the UCC) and Accounts and Securities Accounts (as such terms are defined in the
PPSA) or such similar terms as may be used in any similar applicable law maintained with such First Lien Collateral Agent. 
 (b) No First
Lien Collateral Agent shall have any obligation whatsoever to the other First Lien Collateral Agents, the First Lien Claimholders, the Second Lien Collateral Agents or the Second Lien Claimholders to ensure that the Pledged Collateral is genuine or
owned by any 

  
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of the Grantors or to preserve rights or benefits of any Person except as expressly set forth in this Section 5.4. The duties or responsibilities of each First Lien Collateral
Agent under this Section 5.4 shall be limited solely to holding the Pledged Collateral as bailee and agent in accordance with this Section 5.4 and delivering the Pledged Collateral in its possession upon a Discharge of First Lien
Obligations as provided in paragraph (d) below. 
 (c) Any First Lien Collateral Agent acting pursuant to this Section 5.4 shall
not have by reason of the First Lien Collateral Documents, the Second Lien Collateral Documents, this Agreement or any other document a fiduciary relationship in respect of the other First Lien Collateral Agents, the First Lien Claimholders, the
Second Lien Collateral Agents or the Second Lien Claimholders. 
 (d) Upon the Discharge of First Lien Obligations, the First Lien
Collateral Agents shall, to the extent it is then legally permitted to do so, deliver the remaining Pledged Collateral (if any) together with any necessary endorsements (without representation, warranty or recourse), first, to the Designated
Second Lien Collateral Agent to the extent Second Lien Obligations remain outstanding as confirmed by the Designated Second Lien Collateral Agent, and, to the extent that the Designated Second Lien Collateral Agent confirms no Second Lien
Obligations are outstanding, second, to the Grantors to the extent no First Lien Obligations or Second Lien Obligations remain outstanding (in each case, so as to allow such Person to obtain possession or control of such Pledged Collateral).
Each First Lien Collateral Agent further agrees, upon the Discharge of First Lien Obligations, to take all other action reasonably requested by the Designated Second Lien Collateral Agent at the expense of the Borrowers in connection with the Second
Lien Collateral Agents and the Second Lien Claimholders obtaining a first-priority interest in the Collateral. 

Section 5.5. Purchase Right. Without prejudice to the enforcement of the First Lien Claimholders
remedies, each First Lien Collateral Agent, on behalf of itself and the First Lien Claimholders with respect to which such First Lien Collateral Agent is acting as Agent, agrees that at any time within 30 days of the occurrence of a Triggering
Event, the Second Lien Collateral Agents or the Second Lien Claimholders will have the right to purchase the entire aggregate amount of (but not less than the entire amount of) outstanding First Lien Obligations (including unfunded commitments under
any First Lien Documents and all obligations with respect to letters of credit) at par (plus interest, fees and expenses accrued through the date of purchase, and any applicable prepayment penalty or premium) in cash, without warranty or
representation or recourse, on a pro rata basis across First Lien Claimholders. In order to exercise such purchase right, the Second Lien Collateral Agents and/or the Second Lien Claimholders desiring to exercise such right
shall deliver written notice of such exercise to the Designated First Lien Collateral Agent and shall consummate the purchase of such First Lien Obligations within not less than five Business Days and not more than 10 Business Days after delivery of
such written notice. 
 Section 5.6. Injunctive Relief. Should any Second Lien Collateral Agent or any
Second Lien Claimholder, contrary to this Agreement, in any way take, attempt to or threaten to take any action with respect to the Collateral (including, without limitation, any attempt to realize upon or enforce any remedy with respect to the
Collateral), or fail to take any action required by this 

  
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Agreement, any First Lien Collateral Agent or any First Lien Claimholder (in its or their own name or in the name of a Borrower) or a Borrower may obtain relief against such Second Lien
Collateral Agent or such Second Lien Claimholder, as applicable, by injunction, specific performance and/or other appropriate equitable relief, it being understood and agreed by each Second Lien Collateral Agent, on behalf of itself and each Second
Lien Claimholder with respect to which such Second Lien Collateral Agent is acting as Agent, that (a) the First Lien Claimholders’ damages from its actions may be difficult to ascertain and may be irreparable, and (b) such Second Lien
Collateral Agent and each such Second Lien Claimholder waives any defense that the Borrowers, the First Lien Collateral Agents and/or the First Lien Claimholders cannot demonstrate damage and/or be made whole by the awarding of damages. 

Section 5.7. Notice of the Discharge of First Lien Obligations. The First Lien Collateral Agents agree to use
its reasonable efforts to give to the Second Lien Collateral Agents prompt notice of the Discharge of First Lien Obligations, but the failure to give the foregoing notice shall not affect the validity of such discharge or create a cause of action
against or cause a forfeiture of any rights of the First Lien Collateral Agents or create any claim or right on behalf of any third party. 

Section 5.8. When Discharge of First Lien Obligations Deemed to Not Have Occurred. If, at any time substantially concurrently
with or immediately after the Discharge of First Lien Obligations has occurred, SunOpta, SunOpta Foods, or any other Grantor incurs any First Lien Obligations (other than in respect of the payment of indemnities surviving the Discharge of First Lien
Obligations), then such Discharge of First Lien Obligations shall automatically be deemed not to have occurred for all purposes of this Agreement (other than with respect to any actions taken prior to the date of such designation as a result of the
occurrence of such first Discharge of First Lien Obligations) and the applicable agreement governing such First Lien Obligations shall automatically be treated as a First Lien Document for all purposes of this Agreement, including for purposes of
the Lien priorities and rights in respect of Collateral set forth herein and the agent, representative or trustee for the holders of such First Lien Obligations shall be the Designated First Lien Representative for all purposes of this Agreement.
Upon receipt of notice of such incurrence (including the identity of the new Designated First Lien Representative), each Second Lien Representative (including the Designated Lien Priority Representative) shall promptly (a) enter into such documents
and agreements (at the expense of the Grantors), including amendments, supplements or modifications to this Agreement, as the Grantors or such new First Lien Representative shall reasonably request in writing in order to provide the new First Lien
Representative the rights of a First Lien Representative contemplated hereby, (b) deliver to such First Lien Representative, to the extent that it is legally permitted to do so, all Collateral, including all proceeds thereof, held or controlled by
such Second Lien Representative or any of its agents or bailees, including the transfer of possession and control, as applicable, of the Pledged Collateral, together with any necessary endorsements and notices to depositary banks, securities
intermediaries and commodities intermediaries, and assign its rights under any landlord waiver or bailee’s letter or any similar agreement or arrangement granting it rights or access to Collateral and (c) notify any governmental authority
involved in any condemnation or similar proceeding involving a Grantor that the new First Lien Representative is entitled to approve any awards granted in such proceeding. 

  
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	SECTION 6.	INSOLVENCY OR LIQUIDATION PROCEEDINGS. 

Section 6.1. Finance and Sale Issues. Until the Discharge of First Lien Obligations has occurred, if a
Borrower or any other Grantor shall be subject to any Insolvency or Liquidation Proceeding and any First Lien Collateral Agent shall desire to permit the use of Cash Collateral on which such First Lien Collateral Agent or any other creditor has a
Lien or to permit any Borrower or any other Grantor to obtain financing from any First Lien Claimholders (or any other Person that is approved and consented to by the First Lien Claimholders) under Section 364 of the Bankruptcy Code or any
similar Bankruptcy Law that is to be secured by the Collateral (“DIP Financing”), then each Second Lien Collateral Agent, on behalf of itself and the Second Lien Claimholders with respect to which such Second Lien Collateral Agent
is acting as Agent, agrees that it will raise no objection to such Cash Collateral use or DIP Financing (including by way of proposing an alternative DIP Financing) and to the extent the Liens securing the First Lien Obligations are subordinated to
or equal in priority with such DIP Financing, will subordinate its Liens in the Collateral to the Liens securing such DIP Financing, to all adequate protection Liens granted to the First Lien Collateral Agent, and to any carve-out from the
Collateral agreed to by the First Lien Collateral Agent, and will not seek or accept adequate protection or any other relief in connection therewith (except, as expressly agreed by the First Lien Collateral Agents or to the extent permitted by
Section 6.3 or 6.8); provided that, (A) the aggregate principal amount of the DIP Financing plus the aggregate outstanding principal amount of First Lien Obligations (other than any First Lien Obligations in respect of any swap
agreements or cash management agreements secured by the First Lien Collateral Documents) and the aggregate face amount of any letters of credit issued under the First Lien Documents and undrawn, or drawn and unreimbursed, does not exceed an amount
equal to 115% of the greater of (A) $350.0 million and (B) the Borrowing Base (as defined in the Second Lien Notes Indenture) at the time such debt is incurred; and (B) any such DIP Financing is subject to the terms of this Agreement;
provided further that, the foregoing shall not prevent the Second Lien Claimholders from exercising their rights to vote in favor of or against a plan of reorganization, plan of arrangement, proposal or similar plan in any Insolvency or
Liquidation Proceeding in a manner that is consistent with this Agreement or taking any other action permitted under this Agreement. Each Second Lien Collateral Agent, on behalf of itself and the Second Lien Claimholders with respect to which
such Second Lien Collateral Agent is acting as Agent, agrees that it will raise no objection or oppose a motion to sell or otherwise dispose of any Collateral (and any post-petition assets subject to adequate protection Liens in favor of any First
Lien Collateral Agent) free and clear of its Liens or other claims under Section 363 of the Bankruptcy Code or any similar Bankruptcy Law if (1) the requisite First Lien Claimholders have consented to such sale or disposition of such
assets and (2) the applicable court order approving such sale or disposition provides that that the Liens securing the First Lien Obligations and the Second Lien Obligations will attach to the proceeds of the sale or disposition on the same basis of
priority as the Liens on the Collateral securing the First Lien Obligations rank to the Liens on the Collateral securing the Second Lien Obligations pursuant to this Agreement, and each Second Lien Collateral Agent, on behalf of itself and the
Second Lien Claimholders with respect to which such Second Lien Collateral Agent is acting as Agent, agrees that it will not (i) make any credit bid for any sale of Collateral unless the net cash proceeds of such bid are sufficient such that
Discharge of First Lien Obligations will occur at the closing of such bid or (ii) object to any lawful exercise by any First Lien Collateral Claimholder of the right to credit bid First Lien 

  
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Obligations at any sale in connection with the foreclosure of the Collateral or otherwise under Section 363(k) of the Bankruptcy Code or any similar provision of any other Bankruptcy Law. If
requested by any First Lien Collateral Agent in connection therewith, each Second Lien Collateral Agent shall affirmatively consent to the release of its lien in connection with such a sale or disposition. 

Section 6.2. Relief from the Automatic Stay. Until the Discharge of First Lien Obligations has
occurred, each Second Lien Collateral Agent, on behalf of itself and the Second Lien Claimholders with respect to which such Second Lien Collateral Agent is acting as Agent, agrees that none of them shall (i) seek (or support any other Person
seeking) relief from the automatic stay or any other stay in any Insolvency or Liquidation Proceeding in respect of the Collateral, except with respect to actions expressly permitted by Section 3.1 without the prior written consent of the Designated
First Lien Collateral Agent or (ii) object to any motion by the First Lien Collateral Agent or any other First Lien Claimholder seeking relief from the automatic stay or any other stay in any Insolvency or Liquidation Proceeding in respect of the
Collateral. 
 Section 6.3. Adequate Protection. (a) Each Second Lien Collateral Agent, on behalf
of itself and the Second Lien Claimholders with respect to which such Second Lien Collateral Agent is acting as Agent, agrees that none of them shall contest (or support any other Person contesting): 

(i) any request by any First Lien Collateral Agent or any First Lien Claimholders for adequate protection; or 

(ii) any objection by any First Lien Collateral Agent or any First Lien Claimholders to any motion, relief, action or
proceeding based on any First Lien Collateral Agent or any First Lien Claimholders claiming a lack of adequate protection. 
 (b)
Notwithstanding the foregoing provisions in this Section 6.3, in any Insolvency or Liquidation Proceeding: 
 (i) if any
First Lien Collateral Agent or the First Lien Claimholders (or any subset thereof) are granted adequate protection in the form of a Lien or additional or replacement collateral, then each Second Lien Collateral Agent, on behalf of itself or any
of the Second Lien Claimholders with respect to which such Second Lien Collateral Agent is acting as Agent, may seek or request, without objection from any First Lien Collateral Agent or any First Lien Claimholders, adequate protection in the form
of a Lien on such replacement or additional collateral, which Lien will be subordinated to the Liens securing and providing adequate protection for the First Lien Obligations and such Cash Collateral use or DIP Financing on the same basis as
the other Liens securing the Second Lien Obligations are so junior and subordinated to the First Lien Obligations pursuant to the terms of this Agreement; 

(ii) in the event any Second Lien Collateral Agent, on behalf of itself or any of the Second Lien Claimholders with respect to
which such Second Lien Collateral Agent is acting as Agent, seeks or requests adequate protection in respect of Second Lien 

  
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Obligations and such adequate protection is granted in the form of a Lien on replacement or additional collateral, then such Second Lien Collateral Agent, on behalf of itself or any of the Second
Lien Claimholders with respect to which such Second Lien Collateral Agent is acting as Agent, agrees that each First Lien Collateral Agent, on behalf of itself and the First Lien Claimholders with respect to which such First Lien Collateral Agent is
acting as Agent, shall also be granted a senior Lien on such replacement or additional collateral as security for the First Lien Obligations and for any Cash Collateral use or DIP Financing and that any Lien on such replacement or additional
collateral securing or providing adequate protection of the Second Lien Obligations shall be subordinated to the Lien on such collateral securing the First Lien Obligations and any such DIP Financing or Cash Collateral use (and all Obligations
relating thereto) and to any other Liens granted to the First Lien Claimholders as adequate protection on the same basis as the other Liens securing the Second Lien Obligations are so junior and subordinated to the Liens securing such First Lien
Obligations pursuant to the terms of this Agreement; 
 (iii) if any one or more First Lien Collateral Agents and/or First
Lien Claimholders are granted adequate protection in the form of an administrative expense claim under (§507(b) of the Bankruptcy Code or otherwise), then each First Lien Collateral Agent, on behalf of itself and the First Lien Claimholders
with respect to which such First Lien Collateral Agent is acting as Agent, agrees that each Second Lien Collateral Agent and each Second Lien Claimholder may also be entitled to seek, without objection from such First Lien Collateral Agent or the
First Lien Claimholders with respect to which such First Lien Collateral Agent is acting as Agent, adequate protection in the form of an expense of administration claim, which administrative claim, if obtained, shall be junior and subordinate to the
administrative claim of the First Lien Collateral Agents and the First Lien Claimholders pursuant to the terms of this Agreement; 

(iv) if any one or more Second Lien Collateral Agents and/or Second Lien Claimholders are granted adequate protection in the
form of an administrative expense claim (under §507(b) of the Bankruptcy Code or otherwise), then each Second Lien Collateral Agent, on behalf of itself and the Second Lien Claimholders with respect to which such Second Lien Collateral Agent is
acting as Agent, agrees that each First Lien Collateral Agent and each First Lien Claimholder may also be entitled to seek, without objection from such Second Lien Collateral Agent or the Second Lien Claimholders with respect to which such Second
Lien Collateral Agent is acting as Agent, adequate protection in the form of an expense of administration claim, which administrative claim, if obtained, shall be senior to the administrative claim of the Second Lien Collateral Agents and the Second
Lien Claimholders pursuant to the terms of this Agreement; and 
 (v) if any one or more First Lien Collateral Agents and/or
First Lien Claimholders are granted adequate protection in the form of payments in the amount of current incurred fees and expenses and/or other cash payments, then First Lien Collateral Agent, on behalf of itself and the First Lien Claimholders
with respect to which such First Lien Collateral Agent is acting as Agent, agrees that each Second Lien Collateral Agent and each Second Lien Claimholder may also be entitled to seek adequate protection in the

  
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form of payments in the amount of current incurred fees and expenses and/or other cash payments (as applicable), subject to the right of the First Lien Collateral Agents and the First Lien
Claimholders to object to such adequate protection only as to the reasonableness of the amount of such fees and expenses or other cash payments so sought by the Second Lien Collateral Agents and the Second Lien Claimholders. 

Section 6.4. No Waiver. Subject to Sections 3.1(a) and (d), nothing contained herein shall
prohibit or in any way limit any First Lien Collateral Agent or any First Lien Claimholder from objecting in any Insolvency or Liquidation Proceeding or otherwise to any action taken by any Second Lien Collateral Agent or any of the Second Lien
Claimholders, including the seeking by any Second Lien Collateral Agent or any Second Lien Claimholders of adequate protection (except to the extent specifically allowed in Section 6.3(b)) or the asserting by any Second Lien Collateral Agent or
any Second Lien Claimholders of any of its secured creditor rights and remedies under the Second Lien Documents or otherwise. 

Section 6.5. 506(c) Claims. Until the Discharge of First Lien Obligations has occurred, each Second Lien
Collateral Agent, on behalf of itself and each Second Lien Claimholder with respect to which such Second Lien Collateral Agent is acting as Agent, agrees that it will not assert or enforce any claim under Section 506(c) of the Bankruptcy Code or any
similar provision of any other Bankruptcy Law senior to or on a parity with the Liens securing the First Lien Obligations for costs or expenses of preserving or disposing of any Collateral. 

Section 6.6. Avoidance Issues. If any First Lien Collateral Agent or any First Lien Claimholder
is required in any Insolvency or Liquidation Proceeding or otherwise to turn over or otherwise pay to the estate of either Borrower or any other Grantor any amount paid in respect of First Lien Obligations (the “Recovery”), then
such First Lien Collateral Agent or First Lien Claimholder shall be entitled to a reinstatement of First Lien Obligations with respect to all such recovered amounts. If this Agreement shall have been terminated prior to such Recovery, this
Agreement shall be reinstated in full force and effect, and such prior termination shall not diminish, release, discharge, impair or otherwise affect the obligations of the parties hereto from such date of reinstatement. 

Section 6.7. Reorganization Securities. If, in any Insolvency or Liquidation Proceeding, debt
obligations of the reorganized debtor secured by Liens upon any property of the reorganized debtor are distributed pursuant to a plan of reorganization, plan of arrangement or similar dispositive restructuring plan, both on account of First Lien
Obligations and on account of Second Lien Obligations, then, to the extent the debt obligations distributed on account of the First Lien Obligations and on account of the Second Lien Obligations are secured by Liens upon the same property, the
provisions of this Agreement will survive the distribution of such debt obligations pursuant to such plan and will apply with like effect to the Liens securing such debt obligations. 

Section 6.8. Post-Petition
Interest. (a) No Second Lien Collateral Agent nor any Second Lien Claimholder shall oppose or seek to challenge any claim by any First Lien Collateral Agent or any First Lien Claimholder for allowance in any Insolvency or
Liquidation Proceeding of First Lien Obligations consisting of post-petition interest, fees or expenses to the extent of the value of 

  
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any Liens of the First Lien Collateral Agents and the First Lien Claimholders, without regard to the existence of the Liens of the Second Lien Collateral Agents and the Second Lien Claimholders
on the Collateral. 
 (b) No First Lien Collateral Agent nor any First Lien Claimholder shall oppose or seek to challenge any claim by any
Second Lien Collateral Agent or any Second Lien Claimholder for allowance in any Insolvency or Liquidation Proceeding of Second Lien Obligations consisting of post-petition interest, fees or expenses to the
extent of the value of the Liens of the Second Lien Collateral Agents and the Second Lien Claimholders on the Collateral (after taking into account the Liens of the First Lien Collateral Agents and the First Lien Claimholders on the Collateral).

 Section 6.9. Waiver. Each Second Lien Collateral Agent, for itself and on behalf of the
Second Lien Claimholders with respect to which such Second Lien Collateral Agent is acting as Agent, waives any claim it may hereafter have against any First Lien Collateral Agent or any First Lien Claimholder arising out of the election of any
First Lien Collateral Agent or any First Lien Claimholder of the application of Section 1111(b)(2) of the Bankruptcy Code with respect to the Collateral, and/or out of any cash collateral or financing arrangement or out of any grant of a
security interest in connection with the Collateral in any Insolvency or Liquidation Proceeding and agrees, for itself and on behalf of the Second Lien Claimholders with respect to which such Second Lien Collateral Agent is acting as Agent, to make
no election to apply Section 1111(b)(2) of the Bankruptcy Code in respect of its interest in the Collateral without the consent of the Designated First Lien Collateral Agent. 

Section 6.10. Separate Grants of Security and Separate Classification. Each Second Lien
Collateral Agent, for itself and on behalf of the Second Lien Claimholders with respect to which such Second Lien Collateral Agent is acting as Agent, and each First Lien Collateral Agent, for itself and on behalf of the First Lien Claimholders with
respect to which such First Lien Collateral Agent is acting as Agent, acknowledges and agrees that: 
 (a) the grants of
Liens pursuant to the First Lien Collateral Documents and the Second Lien Collateral Documents constitute two separate and distinct grants of Liens; and 

(b) because of, among other things, their differing rights in the Collateral, the Second Lien Obligations are fundamentally
different from the First Lien Obligations and must be separately classified in any plan of reorganization, plan of arrangement or similar dispositive restructuring plan proposed, confirmed or adopted in an Insolvency or Liquidation Proceeding. 

To further effectuate the intent of the parties as provided in the immediately preceding sentence, if it is held that the claims of the First
Lien Collateral Agents and the First Lien Claimholders in respect of the Collateral, on one hand, and the claims of the Second Lien Collateral Agents and the Second Lien Claimholders in respect of the Collateral, on the other hand, constitute only
one secured claim (rather than separate classes of senior and junior secured claims), then each of the parties hereto hereby acknowledges and agrees that, subject to Sections 2.1 and 4.1, all distributions from the Collateral shall be made as
if there were separate 

  
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classes of senior and junior secured claims against the Grantors in respect of the Collateral (with the effect being that, to the extent that the aggregate value of the Collateral is sufficient
(for this purpose ignoring all claims held by the Second Lien Collateral Agents and the Second Lien Claimholders), the First Lien Collateral Agents and the First Lien Claimholders shall be entitled to receive, in addition to amounts distributed to
them in respect of principal, pre-petition interest and other claims, all amounts owing in respect of post-petition interest (including any additional interest payable
pursuant to the First Lien Documents, arising from or related to a default, which is disallowed as a claim in any Insolvency or Liquidation Proceeding), fees and expenses before any distribution is made in respect of the claims held by the Second
Lien Collateral Agents and the Second Lien Claimholders with respect to the Collateral, with each Second Lien Collateral Agent, for itself and on behalf of the Second Lien Claimholders with respect to which such Second Lien Collateral Agent is
acting as Agent, hereby acknowledging and agreeing to turn over to the Designated First Lien Collateral Agent, for itself and on behalf of the other First Lien Collateral Agents and the First Lien Claimholders, amounts otherwise received or
receivable by them from the Collateral to the extent necessary to effectuate the intent of this sentence, even if such turnover has the effect of reducing the claim or recovery of the Second Lien Collateral Agents and the Second Lien Claimholders).

  

	SECTION 7.	RELIANCE; WAIVERS; ETC. 

Section 7.1. Reliance. Other than any reliance on the terms of this Agreement, each First Lien
Collateral Agent, on behalf of itself and the First Lien Claimholders with respect to which such First Lien Collateral Agent is acting as Agent, acknowledges that it and such First Lien Claimholders have, independently and without reliance on any
Second Lien Collateral Agent or any Second Lien Claimholders, and based on documents and information deemed by them appropriate, made their own credit analysis and decision to enter into the First Lien Documents to which they are parties and be
bound by the terms of this Agreement and they will continue to make their own credit decision in taking or not taking any action under the First Lien Documents to which they are parties or this Agreement. Each Second Lien Collateral Agent, on
behalf of itself and the Second Lien Claimholders with respect to which such Second Lien Collateral Agent is acting as Agent, acknowledges that it and such Second Lien Claimholders have, independently and without reliance on any First Lien
Collateral Agent or any First Lien Claimholder, and based on documents and information deemed by them appropriate, made their own credit analysis and decision to enter into each of the Second Lien Documents to which they are parties and be bound by
the terms of this Agreement and they will continue to make their own credit decision in taking or not taking any action under the Second Lien Documents to which they are parties or this Agreement. 

Section 7.2. No Warranties or Liability. Each First Lien Collateral Agent, on behalf of itself
and the First Lien Claimholders with respect to which such First Lien Collateral Agent is acting as Agent, acknowledges and agrees that no Second Lien Collateral Agent nor any Second Lien Claimholder has made any express or implied representation or
warranty, including with respect to the execution, validity, legality, completeness, collectability or enforceability of any of the Second Lien Documents, the ownership of any Collateral or the perfection or priority of any Liens
thereon. Except as otherwise expressly provided herein, the Second Lien Collateral Agents and the Second Lien Claimholders will be entitled to manage and supervise their 

  
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respective loans and extensions of credit under the Second Lien Documents in accordance with law and as they may otherwise, in their sole discretion, deem appropriate. Each Second Lien
Collateral Agent, on behalf of itself and the Second Lien Claimholders with respect to which such Second Lien Collateral Agent is acting as Agent, acknowledges and agrees that no First Lien Collateral Agent nor any First Lien Claimholder has made
any express or implied representation or warranty, including with respect to the execution, validity, legality, completeness, collectability or enforceability of any of the First Lien Documents, the ownership of any Collateral or the perfection or
priority of any Liens thereon. Except as otherwise expressly provided herein, the First Lien Collateral Agents and the First Lien Claimholders will be entitled to manage and supervise their respective loans and extensions of credit under their
respective First Lien Documents in accordance with law and as they may otherwise, in their sole discretion, deem appropriate. The Second Lien Collateral Agent and the Second Lien Claimholders shall have no duty to the First Lien Collateral
Agent or any of the First Lien Claimholders, and the First Lien Collateral Agent and the First Lien Claimholders shall have no duty to the Second Lien Collateral Agent or any of the Second Lien Claimholders, to act or refrain from acting in a manner
which allows, or results in, the occurrence or continuance of an event of default or default under any agreements with any Borrower or any other Grantor (including the First Lien Documents and the Second Lien Documents), regardless of any knowledge
thereof which they may have or be charged with. 
 Section 7.3. No Waiver of Lien
Priorities. (a) No right of the First Lien Claimholders, the First Lien Collateral Agents or any of them to enforce any provision of this Agreement or any First Lien Document shall at any time in any way be prejudiced or
impaired by any act or failure to act on the part of any Borrower or any other Grantor or by any act or failure to act by any First Lien Claimholder or any First Lien Collateral Agent, or by any noncompliance by any Person with the terms, provisions
and covenants of this Agreement, any of the First Lien Documents or any of the Second Lien Documents, regardless of any knowledge thereof which the First Lien Collateral Agents, the First Lien Claimholders or any of them may have or be otherwise
charged with. 
 (b) Until the Discharge of First Lien Obligations has occurred, each Second Lien Collateral Agent, on behalf of itself and
the Second Lien Claimholders with respect to which such Second Lien Collateral Agent is acting as Agent, agrees not to assert and hereby waives, to the fullest extent permitted by law, any right to demand, request, plead or otherwise assert, or
otherwise claim the benefit of, any marshalling, appraisal, valuation or other similar right that may otherwise be available under applicable law with respect to the Collateral or any other similar rights a junior secured creditor may have under
applicable law. 
 Section 7.4. Obligations Unconditional. All rights, interests, agreements
and obligations of the First Lien Collateral Agents and the First Lien Claimholders and the Second Lien Collateral Agents and the Second Lien Claimholders, respectively, hereunder shall remain in full force and effect irrespective of: 

(a) any lack of validity or enforceability of any First Lien Documents or any Second Lien Documents; 

  
 -32- 

 (b) except as otherwise expressly set forth in this Agreement, any change in the
time, manner or place of payment of, or in any other terms of, all or any of the First Lien Obligations or Second Lien Obligations, or any amendment or waiver or other modification, including any increase in the amount thereof, whether by course of
conduct or otherwise, of the terms of any First Lien Document or any Second Lien Document; 
 (c) except as otherwise
expressly set forth in this Agreement, any exchange of any Lien on any Collateral, or any amendment, waiver or other modification, whether in writing or by course of conduct or otherwise, of all or any of the First Lien Obligations or Second Lien
Obligations or any guarantee thereof; 
 (d) the commencement of any Insolvency or Liquidation Proceeding in respect of any
Borrower or any other Grantor; or 
 (e) any other circumstances which otherwise might constitute a defense available to, or
a discharge of, any Borrower or any other Grantor in respect of any First Lien Collateral Agent, the First Lien Obligations, any First Lien Claimholder, any Second Lien Collateral Agent, the Second Lien Obligations or any Second Lien Claimholder in
respect of this Agreement. 
  

	SECTION 8.	[RESERVED]. 

  

	SECTION 9.	MISCELLANEOUS. 

 Section 9.1. Conflicts. In
the event of any conflict between the provisions of this Agreement and the provisions of the First Lien Documents or the Second Lien Documents, the provisions of this Agreement shall govern and control. 

Section 9.2. Effectiveness; Continuing Nature of this Agreement; Severability. This Agreement shall become
effective when executed and delivered by the parties hereto. This is a continuing agreement of lien subordination and the First Lien Claimholders may continue, at any time and without notice to any Second Lien Collateral Agent or any Second Lien
Claimholder subject to the Second Lien Documents, to extend credit and other financial accommodations and lend monies to or for the benefit of any Borrower or any Grantor constituting First Lien Obligations in reliance hereof. Each Second Lien
Collateral Agent, on behalf of itself and the Second Lien Claimholders with respect to which such Second Lien Collateral Agent is acting as Agent, hereby waives any right it may have under applicable law to revoke this Agreement or any of the
provisions of this Agreement. The terms of this Agreement shall survive, and shall continue in full force and effect, in any Insolvency or Liquidation Proceeding. This Agreement constitutes a “subordination agreement” under Section 510(a)
of the Bankruptcy Code. Any provision of this Agreement that is prohibited or unenforceable in any jurisdiction shall not invalidate the remaining provisions hereof, and any such prohibition or unenforceability in any jurisdiction shall not
invalidate or render unenforceable such provision in any other jurisdiction. All references to a Borrower or any other Grantor shall include such Borrower or such Grantor as debtor and
debtor-in-possession and any receiver or trustee for such Borrower or such Grantor (as the case may be) in any Insolvency or Liquidation Proceeding. This Agreement shall

  
 -33- 

 
terminate and be of no further force and effect upon the earlier of the Discharge of all First Lien Obligations, subject to the rights of the First Lien Collateral Agents and the First Lien
Claimholders under Section 6.6; and the date upon which the Second Lien Obligations shall have been paid in full. 
 The First Lien
Claimholders and the Second Lien Claimholders are deemed to have consented to the terms of this Agreement. 

Section 9.3. Amendments; Waivers; Additional Debt Facilities. No amendment, modification or waiver of
any of the provisions of this Agreement by any Second Lien Collateral Agent or any First Lien Collateral Agent shall be deemed to be made unless the same shall be in writing signed on behalf of each party hereto or its authorized agent and each
waiver, if any, shall be a waiver only with respect to the specific instance involved and shall in no way impair the rights of the parties making such waiver or the obligations of the other parties to such party in any other respect or at any other
time. Each First Lien Collateral Agent and each Second Lien Collateral Agent agree that it will at the request of the Borrowers and at the Borrowers’ expense enter into such amendments to this Agreement (including Intercreditor Agreement
Joinders) as may be necessary to (A) (i) add other parties holding additional obligations that are (or are intended to be) secured on a priority basis that is equal to the priority basis on which the First Lien Obligations are secured by the
Collateral (the “Additional First Lien Obligations”), to the extent such obligations and such security are not prohibited by any First Lien Document or any Second Lien Document and SunOpta delivers an officer’s certificate to
such effect and an Intercreditor Agreement Joinder executed by the Additional First Lien Collateral Agent for the holders of such obligations to each of the Designated First Lien Collateral Agent and the Designated Second Lien Collateral Agent,
(ii) establish that the Lien on the Collateral securing such Additional First Lien Obligations shall be on a priority basis that is equal in all respects to the priority basis of the Liens on the Collateral securing any First Lien Obligations
on the terms set forth herein and shall share in the benefits of the Collateral equally and ratably with all Liens on the Collateral securing any First Lien Obligations and (iii) provide to the holders of such Additional First Lien Obligations
(or any agent, trustee or representative thereof) the comparable rights and benefits as are provided to First Lien Claimholders under this Agreement and (B) (i) add other parties holding additional obligations that are (or are intended to be)
secured on a priority basis that is equal or junior to the priority basis on which the Second Lien Notes are secured by the Collateral (the “Additional Second Lien Obligations”), to the extent such obligations and such security are
not prohibited by any First Lien Document or any Second Lien Document and SunOpta delivers an officer’s certificate to such effect and an Intercreditor Agreement Joinder executed by the Additional Second Lien Collateral Agent for the holders of
such obligations to each of the Designated First Lien Collateral Agent and the Designated Second Lien Collateral Agent, (ii) establish that the Lien on the Collateral securing such Additional Second Lien Obligations shall be junior and
subordinate in all respects to all Liens on the Collateral securing any First Lien Obligations on the terms set forth herein and (iii) provide to the holders of such Additional Second Lien Obligations (or any agent, trustee or representative
thereof) the comparable rights and benefits as are provided to Second Lien Claimholders under this Agreement. Notwithstanding the foregoing, no Borrower nor any other Grantor shall have any right to consent to or approve any amendment,
modification or waiver of any provision of this Agreement except to the extent its rights are directly affected (which includes, but is not limited to, any amendment to the Grantors’ ability to cause additional obligations to constitute First
Lien Obligations or Second Lien Obligations as the Borrowers may designate). 

  
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 Section 9.4. Information Concerning Financial Condition of the
Borrowers and the Guarantors. The First Lien Collateral Agents and the First Lien Claimholders, on the one hand, and the Second Lien Claimholders and the Second Lien Collateral Agents, on the other hand, shall each be responsible for
keeping themselves informed of (a) the financial condition of the Borrowers and the Guarantors and all other endorsers and/or guarantors of the First Lien Obligations or the Second Lien Obligations and (b) all other circumstances bearing
upon the risk of nonpayment of the First Lien Obligations or the Second Lien Obligations. The First Lien Collateral Agents, First Lien Claimholders, Second Lien Collateral Agents and Second Lien Claimholders shall have no duty to advise any
other Person of information known to it or them regarding such condition or any such circumstances or otherwise. In the event any First Lien Collateral Agent, any of the First Lien Claimholders, any Second Lien Collateral Agent, or any Second
Lien Claimholders, in its or their sole discretion, undertakes at any time or from time to time to provide any such information to any other Person, it or they shall be under no obligation: 

(a) to make, and the First Lien Collateral Agents, First Lien Claimholders, Second Lien Collateral Agents and Second Lien
Claimholders shall not make, any express or implied representation or warranty, including with respect to the accuracy, completeness, truthfulness or validity of any such information so provided; 

(b) to provide any additional information or to provide any such information on any subsequent occasion; 

(c) to undertake any investigation; or 

(d) to disclose any information, which pursuant to accepted or reasonable commercial finance practices, such party wishes to
maintain confidential or is otherwise required to maintain confidential. 
 Section 9.5.
Subrogation. Each Second Lien Collateral Agent, on behalf of itself and the Second Lien Claimholders with respect to which such Second Lien Collateral Agent is acting as Agent, hereby waives any rights of subrogation it may acquire as a
result of any payment hereunder until the Discharge of First Lien Obligations has occurred. 
 Section 9.6.
Application of Payments. Subject to the terms of this Agreement, all payments received by the First Lien Collateral Agents or the First Lien Claimholders may be applied, reversed and reapplied, in whole or in part, to such part of the
First Lien Obligations as is provided for in the First Lien Documents (including the First Lien Intercreditor Agreement, if any). Each Second Lien Collateral Agent, on behalf of itself and the Second Lien Claimholders with respect to which such
Second Lien Collateral Agent is acting as Agent, assents to any extension or postponement of the time of payment of the First Lien Obligations or any part thereof and to any other indulgence with respect thereto, to any substitution, exchange or
release of any security which may at any time secure any part of the First Lien Obligations and to the addition or, subject to the terms hereof, release of any other Person primarily or secondarily liable therefor. 

  
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 Section 9.7. SUBMISSION TO JURISDICTION; WAIVERS. (A) EACH
OF THE PARTIES HERETO, INCLUDING EACH BORROWER AND EACH OTHER GRANTOR, IRREVOCABLY AND UNCONDITIONALLY SUBMITS, FOR ITSELF AND ITS PROPERTY, TO THE NONEXCLUSIVE JURISDICTION OF THE COURTS 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 THIS AGREEMENT, OR FOR RECOGNITION OR ENFORCEMENT OF ANY JUDGMENT, AND EACH OF
THE PARTIES HERETO, INCLUDING EACH BORROWER AND EACH OTHER GRANTOR, IRREVOCABLY AND UNCONDITIONALLY AGREES THAT ALL CLAIMS IN RESPECT OF ANY SUCH ACTION OR PROCEEDING MAY BE HEARD AND DETERMINED IN SUCH NEW YORK STATE COURT OR, TO THE FULLEST EXTENT
PERMITTED BY APPLICABLE LAW, IN SUCH FEDERAL COURT. EACH OF THE PARTIES HERETO AGREES THAT A FINAL JUDGMENT IN ANY SUCH ACTION OR PROCEEDING SHALL BE CONCLUSIVE AND MAY BE ENFORCED IN OTHER JURISDICTIONS BY SUIT ON THE JUDGMENT OR IN ANY OTHER
MANNER PROVIDED BY LAW. BY EXECUTING AND DELIVERING THIS AGREEMENT, EACH PARTY, FOR ITSELF AND IN CONNECTION WITH ITS PROPERTIES, IRREVOCABLY: 

(I) WAIVES ANY DEFENSE OF FORUM NON CONVENIENS; 

(II) AGREES THAT SERVICE OF ALL PROCESS IN ANY SUCH PROCEEDING IN ANY SUCH COURT MAY BE MADE BY REGISTERED OR CERTIFIED MAIL,
RETURN RECEIPT REQUESTED, TO THE APPLICABLE PARTY AT ITS ADDRESS PROVIDED IN ACCORDANCE WITH SECTION 8.8 HEREOF; AND 

(III) AGREES THAT SERVICE AS PROVIDED IN CLAUSE (II) ABOVE IS SUFFICIENT TO CONFER PERSONAL JURISDICTION OVER THE APPLICABLE
PARTY IN ANY SUCH PROCEEDING IN ANY SUCH COURT, AND OTHERWISE CONSTITUTES EFFECTIVE AND BINDING SERVICE IN EVERY RESPECT. 
 (B) EACH OF THE
FIRST LIEN CLAIMHOLDERS, THE FIRST LIEN COLLATERAL AGENTS, THE SECOND LIEN CLAIMHOLDERS, THE SECOND LIEN COLLATERAL AGENTS, THE BORROWERS AND THE OTHER GRANTORS HEREBY IRREVOCABLY WAIVES, TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW, ANY RIGHT
IT MAY HAVE TO A TRIAL BY JURY IN ANY LEGAL PROCEEDING DIRECTLY OR INDIRECTLY ARISING OUT OF OR RELATING TO THIS AGREEMENT OR THE TRANSACTIONS CONTEMPLATED HEREBY (WHETHER BASED ON CONTRACT, TORT OR ANY OTHER THEORY). EACH PARTY HERETO (A)
CERTIFIES THAT NO REPRESENTATIVE, AGENT OR ATTORNEY OF ANY OTHER PERSON HAS REPRESENTED, EXPRESSLY OR OTHERWISE, THAT SUCH OTHER PERSON WOULD 

  
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NOT, IN THE EVENT OF LITIGATION, SEEK TO ENFORCE THE FOREGOING WAIVER AND (B) ACKNOWLEDGES THAT IT AND THE OTHER PARTIES HERETO HAVE BEEN INDUCED TO ENTER INTO THIS AGREEMENT AND THE OTHER LOAN
DOCUMENTS BY, AMONG OTHER THINGS, THE MUTUAL WAIVERS AND CERTIFICATIONS IN THIS SECTION. 
 Section 9.8.
Notices. All notices to the Second Lien Claimholders and the First Lien Claimholders permitted or required under this Agreement shall also be sent to the Second Lien Collateral Agents and the First Lien Collateral Agents,
respectively. Unless otherwise specifically provided herein, any notice hereunder shall be in writing and may be personally served, or sent by fax or United States mail or courier service or e-mail and shall be deemed to have been given when
delivered in person or by courier service and signed for against receipt thereof, upon receipt of fax or e-mail, or three Business Days after depositing it in the United States mail with postage prepaid and properly addressed. For the purposes
hereof, the addresses of the parties hereto shall be as set forth below each party’s name on the signature pages hereto, or, as to each party, at such other address as may be designated by such party in a written notice to all of the other
parties. 
 Each Second Lien Collateral Agents and each First Lien Collateral Agents agree to accept and act upon instructions or directions
pursuant to this Agreement sent by unsecured e-mail, pdf, fax transmission or other similar unsecured electronic methods, provided, however, that such Second Lien Collateral Agent or such First Lien Collateral Agent, as applicable,
shall have received an incumbency certificate listing persons designated to give such instructions or directions and containing specimen signatures of such designated persons, which such incumbency certificate shall be amended and replaced whenever
a person is to be added or deleted from the listing. If a Borrower, a Grantor or a First Lien Collateral Agent elects to give any Second Lien Collateral Agent e-mail or fax instructions (or instructions by a similar electronic method) and such
Second Lien Collateral Agent in its discretion elects to act upon such instructions, such Second Lien Collateral Agent’s understanding of such instructions shall be deemed controlling. No Second Lien Collateral Agent shall be liable for
any losses, costs or expenses arising directly or indirectly from such Second Lien Collateral Agent’s reliance upon and compliance with such instructions notwithstanding such instructions conflict or are inconsistent with a subsequent written
instruction (except when such reliance and compliance occurs as a result of such Second Lien Collateral Agent’s gross negligence or willful misconduct). Each Borrower, each Grantor and each First Lien Collateral Agent agrees to assume all
risks arising out of the use of such electronic methods to submit instructions and directions to any Second Lien Collateral Agent, including without limitation the risk of such Second Lien Collateral Agent acting on unauthorized instructions, and
the risk or interception and misuse by third parties (except when such reliance and compliance occurs as a result of such Second Lien Collateral Agent’s gross negligence or willful misconduct). If a Borrower, a Grantor or a Second Lien
Collateral Agent elects to give any First Lien Collateral Agent e-mail or fax instructions (or instructions by a similar electronic method) and such First Lien Collateral Agent in its discretion elects to act upon such instructions, such First Lien
Collateral Agent’s understanding of such instructions shall be deemed controlling. No First Lien Collateral Agent shall be liable for any losses, costs or expenses arising directly or indirectly from such First Lien Collateral Agent’s
reliance upon and compliance with such instructions notwithstanding such 

  
 -37- 

 
instructions conflict or are inconsistent with a subsequent written instruction (except when such reliance and compliance occurs as a result of such First Lien Collateral Agent’s gross
negligence or willful misconduct). Each Borrower, each Grantor and each Second Lien Collateral Agent agrees to assume all risks arising out of the use of such electronic methods to submit instructions and directions to any First Lien Collateral
Agent, including without limitation the risk of such First Lien Collateral Agent acting on unauthorized instructions, and the risk or interception and misuse by third parties (except when such reliance and compliance occurs as a result of such First
Lien Collateral Agent’s gross negligence or willful misconduct). 
 Section 9.9. Further
Assurances. Each First Lien Collateral Agent, on behalf of itself and the First Lien Claimholders with respect to which such First Lien Collateral Agent is acting as Agent, and each Second Lien Collateral Agent, on behalf of itself and the
Second Lien Claimholders with respect to which such Second Lien Collateral Agent is acting as Agent, and each Borrower and each other Grantor, each agree that each of them shall take such further action and shall execute and deliver such additional
documents and instruments (in recordable form, if requested) as any First Lien Collateral Agent or any Second Lien Collateral Agent may reasonably request to effectuate the terms of and the Lien priorities contemplated by this Agreement, all at the
expense of the Borrowers. 
 Section 9.10. APPLICABLE LAW. THIS AGREEMENT SHALL BE GOVERNED BY,
CONSTRUED AND ENFORCED IN ACCORDANCE WITH, THE LAW OF THE STATE OF NEW YORK. 
 Section 9.11. Binding on
Successors and Assigns. This Agreement shall be binding upon the First Lien Collateral Agents, the First Lien Claimholders, the Second Lien Collateral Agents, the Second Lien Claimholders and their respective successors and assigns. 

Section 9.12. Counterparts. This Agreement may be executed in counterparts (and by different parties
hereto in different counterparts), each of which shall constitute an original, but all of which when taken together shall constitute a single contract. Delivery of an executed counterpart of a signature page of this Agreement or any document or
instrument delivered in connection herewith by telecopy or other electronic communication, including email, shall be effective as delivery of a manually executed counterpart of this Agreement or such other document or instrument, as applicable. 

Section 9.13. Representations and Warranties. (a) Each Second Lien Collateral Agent, for itself and on behalf of the Second
Lien Claimholders with respect to which such Second Lien Collateral Agent is acting as Agent, hereby represents and warrants to the First Lien Claimholders as follows: 

(i) Existence and Power. Such Second Lien Collateral Agent is duly organized, validly existing, and in good
standing under the laws of the United States of America. 
 (ii) Authority. Such Second Lien Collateral Agent has
the corporate trust power and authority to enter into, execute, deliver, and perform the terms of this 

  
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Agreement on its own behalf and, as provided in Second Lien Documents to which it is a party, on behalf of the Second Lien Claimholders with respect to which such Second Lien Collateral Agent is
acting as Agent. 
 (iii) Binding Agreements. This Agreement, when executed and delivered, will constitute the
valid and legally binding obligation of such Second Lien Collateral Agent enforceable against it in accordance with its terms, except as such enforceability may be limited by applicable bankruptcy, insolvency, reorganization, moratorium, or similar
laws affecting the enforcement of creditors’ rights generally and by equitable principles.
 (b) Each First Lien Collateral Agent, for
itself and on behalf of the First Lien Claimholders with respect to which such First Lien Collateral Agent is acting as Agent, hereby represents and warrants to the Second Lien Claimholders as follows: 

(i) Existence and Power. Such First Lien Collateral Agent is duly organized and validly existing under the laws of
its jurisdiction of organization. 
 (ii) Authority. Such First Lien Collateral Agent has the power and authority
to enter into, execute, deliver, and perform the terms of this Agreement on its own behalf and on behalf of the First Lien Claimholders with respect to which such First Lien Collateral Agent is acting as Agent. 

(iii) Binding Agreements. This Agreement, when executed and delivered, will constitute the valid and legally
binding obligation of such First Lien Collateral Agent and each of the First Lien Claimholders with respect to which such First Lien Collateral Agent is acting as Agent, enforceable against each such Person in accordance with its terms, except as
such enforceability may be limited by applicable bankruptcy, insolvency, reorganization, moratorium, or similar laws affecting the enforcement of creditors’ rights generally and by equitable principles. 

Section 9.14. No Third Party Beneficiaries. This Agreement and the rights and benefits hereof shall
inure to the benefit of each of the parties hereto and its respective successors and assigns and shall inure to the benefit of and bind each of the First Lien Claimholders and the Second Lien Claimholders. Nothing in this Agreement shall
impair, as among the Borrower and the other Grantors and the First Lien Collateral Agents and the First Lien Claimholders, or as among the Borrower and the other Grantors and the Second Lien Collateral Agents and the Second Lien Claimholders, the
obligations of the Borrower and the other Grantors to pay principal, interest, fees and other amounts as provided in the First Lien Documents and the Second Lien Documents, respectively. 

Section 9.15. Provisions Solely to Define Relative Rights. The provisions of this Agreement are and are
intended solely for the purpose of defining the relative rights of the First Lien Collateral Agents and the First Lien Claimholders on the one hand and the Second Lien Collateral Agents and the Second Lien Claimholders on the other hand. None
of the Borrowers, any other Grantor or any other creditor thereof shall have any rights hereunder except as otherwise set forth in this Agreement and none of the Borrowers nor any Grantor may rely on the

  
 -39- 

 
terms hereof. Nothing in this Agreement is intended to or shall impair the obligations of any Borrower or any other Grantor to pay the First Lien Obligations and the Second Lien Obligations
as and when the same shall become due and payable in accordance with their terms. 
 Section 9.16. Second Lien Collateral
Agents. Each Second Lien Collateral Agent is party to this Agreement in its capacity as collateral agent under the applicable Second Lien Documents and shall be entitled, in connection with the exercise of its rights and the performance
of its duties hereunder, to all the protections, immunities and exculpations available to it under the Second Lien Documents with respect to which it is acting as Agent.

Section 9.17. Amendment and Restatement. This Agreement amends and restates the Existing Intercreditor Agreement. All references made to the
Existing Intercreditor Agreement in any Credit Document or in any other instrument or document shall, without more, be deemed to refer to this Agreement. On and after the date hereof, the Existing Intercreditor Agreement shall be amended and
restated in the form of this Agreement and the Existing Intercreditor Agreement shall be replaced in full by this Agreement. 

[SIGNATURE PAGES TO FOLLOW] 

  
 -40- 

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

					
	 BANK OF AMERICA, N.A., as Initial First
Lien Collateral Agent

		
	By:	 	 /s/ Steve Siravo

		 	Name:	 	 Steve Siravo

		 	Title:	 	 Senior Vice President

	
	Address for Notices:
	
	Bank of America, N.A.
	2600 West Big Beaver Road
	MI8-900-02-70
	Troy, MI 48084
	Attention: Steve Siravo
	Facsimile: 312-453-4251

 [SIGNATURE PAGE TO INTERCREDITOR
AGREEMENT] 

 
					
	 U.S. BANK, NATIONAL ASSOCIATION, as
Initial Second Lien Collateral Agent

		
	By:	 	 /s/ Kathy L. Mitchell

		 	Name:	 	Kathy L. Mitchell
		 	Title:	 	Vice President
	
	Address for Notices:
	
	U.S. Bank National Association
	225 Asylum Street, 23rd Floor
	Hartford, CT 06103
	Attn: Global Corporate Trust Services
	Facsimile: 860-241-6881

  
 [SIGNATURE
PAGE TO INTERCREDITOR AGREEMENT] 

 ACKNOWLEDGMENT 

Acknowledged and Agreed to by: 
  

					
	SUNOPTA INC.
		
	By:	 	 /s/ Robert McKeracher

		 	Name:	 	 Robert McKeracher

		 	Title:	 	 Vice President and Chief Financial Officer

	
	SUNOPTA FOODS INC.
		
	By:	 	 /s/ Robert McKeracher

		 	Name:	 	 Robert McKeracher

		 	Title:	 	 Vice President

	
	SUNOPTA GRAINS AND FOODS INC.
		
	By:	 	 /s/ Robert McKeracher

		 	Name:	 	 Robert McKeracher

		 	Title:	 	 Vice President

	
	CITRUSOURCE, LLC
		
	By:	 	 /s/ Robert McKeracher

		 	Name:	 	 Robert McKeracher

		 	Title:	 	 Vice President

	
	SUNOPTA COMPANIES INC.
		
	By:	 	 /s/ Robert McKeracher

		 	Name:	 	 Robert McKeracher

		 	Title:	 	 Vice President

  

[ACKNOWLEDGMENT TO INTERCREDITOR AGREEMENT] 

 
					
	SUNOPTA GLOBAL ORGANIC INGREDIENTS INC.
		
	 By:
	 	 /s/ Robert McKeracher

		 	 Name:
	 	 Robert McKeracher

		 	 Title:
	 	 Vice President

	
	TRADIN ORGANICS USA LLC
		
	 By:
	 	 /s/ Robert McKeracher

		 	 Name:
	 	 Robert McKeracher

		 	 Title:
	 	 Vice President

	
	SUNRISE HOLDINGS (DELAWARE), INC.
		
	 By:
	 	 /s/ Robert McKeracher

		 	 Name:
	 	 Robert McKeracher

		 	 Title:
	 	 Vice President

	
	SUNRISE GROWERS, INC.
		
	 By:
	 	 /s/ Robert McKeracher

		 	 Name:
	 	 Robert McKeracher

		 	 Title:
	 	 Vice President

	
	PACIFIC RIDGE FARMS, LLC
		
	 By:
	 	 /s/ Robert McKeracher

		 	 Name:
	 	 Robert McKeracher

		 	 Title:
	 	 Vice President

	
	FARM CAPITAL INCORPORATED
		
	 By:
	 	 /s/ Robert McKeracher

		 	 Name:
	 	 Robert McKeracher

		 	 Title:
	 	 Vice President

  

[ACKNOWLEDGMENT TO INTERCREDITOR AGREEMENT] 

 
					
	SUNOPTA INVESTMENTS LTD.
		
	By:	 	 /s/ Robert McKeracher

		 	 Name:
	 	 Robert McKeracher

		 	 Title:
	 	 Vice President

	
	COÖPERATIE SUNOPTA U.A.
		
	By:	 	 /s/ Bob Kouw

		 	 Name:
	 	 Bob Kouw

		 	 Title:
	 	 Authorized Signatory

		
	By:	 	 /s/ Gerard Versteegh

		 	 Name:
	 	 Gerard Versteegh

		 	 Title:
	 	 Authorized Signatory

	
	THE ORGANIC CORPORATION B.V.
		
	By:	 	 /s/ Bob Kouw

		 	 Name:
	 	 Bob Kouw

		 	 Title:
	 	 Authorized Signatory

		
	By:	 	 /s/ Gerard Versteegh

		 	 Name:
	 	 Gerard Versteegh

		 	 Title:
	 	 Authorized Signatory

	
	CROWN OF HOLLAND B.V.
		
	By:	 	 /s/ Bob Kouw

		 	 Name:
	 	 Bob Kouw

		 	 Title:
	 	 Authorized Signatory

		
	By:	 	 /s/ Gerard Versteegh

		 	 Name:
	 	 Gerard Versteegh

		 	 Title:
	 	 Authorized Signatory

  

[ACKNOWLEDGMENT TO INTERCREDITOR AGREEMENT] 

 
					
	TRADIN ORGANIC AGRICULTURE B.V.
		
	 By:
	 	 /s/ Bob Kouw

		 	 Name:
	 	 Bob Kouw

		 	 Title:
	 	 Authorized Signatory

		
	 By:
	 	 /s/ Gerard Versteegh

		 	 Name:
	 	 Gerard Versteegh

		 	 Title:
	 	 Authorized Signatory

	
	TRABOCCA B.V.
		
	 By:
	 	 /s/ Bob Kouw

		 	 Name:
	 	 Bob Kouw

		 	 Title:
	 	 Authorized Signatory

		
	 By:
	 	 /s/ Gerard Versteegh

		 	 Name:
	 	 Gerard Versteegh

		 	 Title:
	 	 Authorized Signatory

  

[ACKNOWLEDGMENT TO INTERCREDITOR AGREEMENT] 

 EXHIBIT A to Intercreditor Agreement 

AGREED SECURITY PRINCIPLES 

SunOpta Foods and the Guarantors will use their commercially reasonable efforts to grant, or take perfection or similar actions that are
required under applicable law with respect to, a second priority security interest (subject to the definition of Permitted Liens in the Second Lien Notes Indenture, the Intercreditor Agreement to which this Exhibit A is attached and these Agreed
Security Principles) to each Second Lien Collateral Agent, for the benefit of itself and the Second Lien Claimholders with respect to which such Second Lien Collateral Agent is acting as Agent, in all assets that secure the First Lien Obligations.
However, if after the use of commercially reasonable efforts, SunOpta Foods or the applicable Guarantor determines in good faith that it cannot grant such security interest to, or cannot accomplish the required or necessary perfection or similar
actions under the applicable laws of any jurisdiction outside the United States and Canada for the benefit of, such Second Lien Collateral Agent, for the benefit of itself and the Second Lien Claimholders with respect to which such Second Lien
Collateral Agent is acting as Agent, without undue burden or expense or because the laws of a particular jurisdiction do not recognize the concept of a “second priority lien”, “junior priority lien”, “second priority
security interest” or “junior priority security interest,” SunOpta Foods and the Guarantors shall not be required to grant such security interest and/or accomplish such perfection or similar actions, even if a security interest
has been granted to, or such perfection or similar actions have been accomplished for the benefit of, any First Lien Collateral Agent or any First Lien Claimholders (such collateral shall be referred to as “Excluded Collateral” and
such excepted perfection actions shall be referred to as “Excluded Actions”). 
 Notwithstanding anything to the contrary
contained herein, in the Intercreditor Agreement or the Second Lien Documents, the Second Lien Obligations will not be secured by any assets, and SunOpta Foods and the applicable Guarantors will not be required to accomplish any perfection or
similar actions under the applicable laws of any jurisdiction for the benefit of, each Second Lien Collateral Agent, for the benefit of itself and the Second Lien Claimholders with respect to which such Second Lien Collateral Agent is acting as
Agent, to the extent that holders of First Lien Obligations (i) are not granted a Lien on such assets or do not receive a perfected security interest in such assets under the applicable laws of any jurisdiction for any reason, (ii) waive
any requirement to grant a Lien on, or accomplish perfection or similar actions under the applicable laws of any jurisdiction for, such assets or (iii) release their Lien on, or perfected security interest in, such assets (or if such Lien is
automatically released) (other than in the case of this clause (iii) if such release occurs in connection with the discharge in full of all obligations owing under such First Lien Obligations which discharge (A) is not in connection with a
foreclosure of, or other exercise of remedies with respect to, such assets or (B) is not in connection with a replacement or refinancing of such First Lien Obligations, it being understood that in the case of this clause (B) the Second
Lien Obligations will be secured on a junior priority basis by Collateral that secures the First Lien Obligations that are outstanding after giving effect to any such replacement or refinancing, subject to these Agreed Security Principles). 

 For the avoidance of doubt, the following categories shall be deemed to be Excluded Collateral
and/or Excluded Assets: 
  

	 	•	 	if the cost of providing such guarantee or lien and/or perfecting such security interest on a second or junior priority basis is not proportionate to the benefit accruing to the Second Lien Claimholders;

  

	 	•	 	if there is material incremental cost or expense involved in creating, granting or perfecting a second or junior priority lien or security interest over the assets of SunOpta Foods or the applicable Guarantor in a
particular category of assets and/or a particular jurisdiction, only the material assets in that category and/or jurisdiction will be subject to such lien if doing so would result in a savings of such material incremental cost or expense (it being
understood that if the whole category of such assets is not material, then no actions shall be required to be taken in respect of such category and/or in such jurisdiction); 

 

	 	•	 	if providing and/or perfecting such lien on a second or junior priority basis (i) requires consent before such assets may be secured and/or perfected or (ii) where providing and/or perfecting such lien would,
without the consent of a third party, give such third party the right to terminate or otherwise amend any rights, benefits and/or obligations of SunOpta Foods or the Guarantors in respect of those assets or require any of them to take any action
materially adverse to their interests and (subject to certain conditions being met) in respect of either clause (i) or (ii) such consent cannot be obtained after the use of commercially reasonable efforts; 

 

	 	•	 	if providing and/or perfecting such lien on a second or junior lien basis would be prohibited by applicable law, general statutory limitations, financial assistance, corporate benefit, fraudulent preference, “thin
capitalization” rules or similar matters or providing and/or perfecting security would be outside the applicable pledgor’s capacity or conflict with fiduciary duties of directors or cause material risk of personal or criminal liability
after the use of commercially reasonable efforts to overcome such prohibitions (if possible); 

  

	 	•	 	if in certain jurisdictions it may be either impossible or impractical to create and/or perfect a second or junior priority lien over certain categories of assets or over all assets, such lien will not be granted and/or
required to be perfected over such assets in such jurisdictions; 

  

	 	•	 	if providing and/or perfecting such lien would have a material adverse effect (as reasonably determined in good faith by SunOpta) on the ability of SunOpta or any of its Subsidiaries to conduct its operations and
business in the ordinary course as otherwise permitted by the Indenture and any requirement under these Agreed Security Principles to seek consent of any person or take or not take any other action shall be subject to this principle;

  

	 	•	 	no perfection or similar action will be required in jurisdictions where SunOpta Foods or a Guarantor is not located or organized but perfection or similar action or actions to make enforceable any lien may be required
in the jurisdiction of another Subsidiary or where the assets of SunOpta Foods or such Guarantor may also be located and no perfection or similar action will be required in any supra-national registries; 

  
 -2- 

	 	•	 	in the case of bank or securities accounts not located in the United States or Canada, if providing such lien and/or perfecting liens thereon for the benefit of any Second Lien Collateral Agent, on behalf of itself and
the Second Lien Claimholders with respect to which such Second Lien Collateral Agent is acting as Agent, would require giving notice to the banks with whom such accounts are maintained, such notice will only be provided after the Second Lien
Obligations are accelerated (it being understood that whether located in the United States, Canada or elsewhere, control agreements (or similar perfection arrangements) in favor of such Second Lien Collateral Agent, on behalf of itself and the
Second Lien Claimholders with respect to which such Second Lien Collateral Agent is acting as Agent, with respect to any Collateral shall only be required to be entered into after the discharge in full of all First Lien Obligations secured by such
Collateral; 

  

	 	•	 	in the case of receivables, notification of receivables security to debtors and of liens over goods held by third parties, in each case in favor of any Second Lien Collateral Agent, on behalf of itself and the Second
Lien Claimholders with respect to which such Second Lien Collateral Agent is acting as Agent, will only be provided after the Second Lien Obligations are accelerated, subject to certain exceptions; and 

 

	 	•	 	if the trustee or other representative of the Second Lien Claimholders, or the applicable Second Lien Collateral Agent, as applicable, is unable to or refuses to execute the guarantee or supplemental indenture or
collateral documents or otherwise cooperate in the provision of such guarantee or the granting of such liens and/or the taking of such actions required to perfect a lien in any such assets. 

These Agreed Security Principles will be interpreted and applied in good faith by SunOpta and SunOpta Foods. 

If SunOpta Foods or a Guarantor is not required to grant a security interest or accomplish perfection or similar actions due to the exceptions
set forth in these Agreed Security Principles, SunOpta Foods or such Guarantor shall not be permitted to grant such security interest or accomplish such perfection or similar actions for the benefit of the holders of any Indebtedness of SunOpta,
SunOpta Foods or a Restricted Subsidiary that is not a Foreign Subsidiary or a Canadian CFC unless such Indebtedness is Domestic Priority Debt (as each such capitalized term used in this paragraph but not defined herein is defined in the Second Lien
Notes Indenture). 

  
 -3- 

 EXHIBIT B to Intercreditor Agreement 

[FORM OF] 
 INTERCREDITOR
AGREEMENT JOINDER 
 Reference is made to the Amended and Restated Intercreditor Agreement dated as of October 20, 2016 (as amended,
restated, amended and restated, supplemented or otherwise modified from time to time, the “Intercreditor Agreement”), among Bank of America, N.A. (“Bank of America”), as Initial First Lien Collateral Agent, U.S.
Bank National Association (“U.S. Bank”), as Initial Second Lien Collateral Agent, each Additional First Lien Collateral Agent from time to time party thereto and each Additional Second Lien Collateral Agent from time to time party
thereto. Capitalized terms used but not defined herein shall have the meanings assigned to such terms in the Intercreditor Agreement. 

This Intercreditor Agreement Joinder, dated as of [●] [●], 20[●] (this “Joinder”), is being delivered
pursuant to requirements of the Intercreditor Agreement. 
 1. Joinder. The undersigned, [●], as [an Additional [First
Lien][Second Lien] Collateral Agent, on behalf of itself and the applicable [First Lien][Second Lien] Claimholders], hereby agrees to become party to the Intercreditor Agreement as a [First Lien Collateral Agent][Second Lien Collateral Agent]
thereunder for all purposes thereof on the terms set forth therein, and to be bound by the terms, conditions and provisions of the Intercreditor Agreement as fully as if the undersigned had executed and delivered the Intercreditor Agreement as of
the date thereof. 
 2. Agreements. The undersigned [First Lien Collateral Agent][Second Lien Collateral Agent] hereby agrees,
for the enforceable benefit of all existing and future First Lien Collateral Agents, First Lien Claimholders, Second Lien Collateral Agents and Second Lien Claimholders that the undersigned is (and the [First Lien][Second Lien] Claimholders
represented by it are)] bound by the terms, conditions and provisions of the Intercreditor Agreement to the extent set forth therein. 
 3.
Notice Information. The address of the undersigned [First Lien Secured Collateral Agent][Second Lien Collateral Agent] for purposes of all notices and other communications hereunder and under the Intercreditor Agreement is
[●], Attention of [●] (Facsimile No. [●][, electronic mail address: [●]]). 
 4. Counterparts. This
Joinder may be executed in two or more counterparts, each of which shall constitute an original but all of which when taken together shall constitute one contract. Delivery of an executed signature page to this Joinder by facsimile transmission
or by email as a “.pdf” or “.tif” attachment shall be as effective as delivery of a manually signed counterpart of this Joinder. 

 5. Governing Law. THIS JOINDER AGREEMENT SHALL BE GOVERNED BY, AND CONSTRUED IN
ACCORDANCE WITH, THE LAWS OF THE STATE OF NEW YORK. 
 6. Loan Document. This Joinder shall constitute a Loan Document, under
and as defined in the First Lien Revolving Credit Agreement. 
 7. Miscellaneous. The provisions of Section 9 of the
Intercreditor Agreement will apply with like effect to this Joinder. 
 [Signature Pages Follow] 

  
 -2- 

 IN WITNESS WHEREOF, the undersigned has caused this Intercreditor Agreement Joinder to be duly
executed by its authorized representative, and each Agent has caused the same to be accepted by its authorized representative, as of the day and year first above written. 

 

			
	[NAME OF [ADDITIONAL FIRST LIEN COLLATERAL AGENT][ADDITIONAL SECOND LIEN COLLATERAL AGENT]],
as
[                                        
]
		
	        By:	 	  

		 	Name:
		 	Title:

  
 -3- 

 Acknowledged and Agreed to by: 
  

			
	BANK OF AMERICA, N.A.,
as First Lien Collateral Agent
		
	By:	 	  

		 	Name:
		
		 	Title:
		
		 	Address:
[                                        
]
		
		 	Facsimile:
[                                        
]

  
 -4- 

 Acknowledged and Agreed to by: 
  

			
	U.S. BANK NATIONAL ASSOCIATION,
as Second Lien Collateral Agent
		
	        By:	 	  

		 	Name:
		
		 	Title:
		
		 	Address:
[                                        
]
		
		 	Facsimile:
[                                        
]

  
 -5-

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